Axe Compute Inc. (NASDAQ: AGPU) has acquired 100% ownership of a special purpose vehicle (SPV) that owns an AI cluster in Columbus, Georgia, from Duos Technologies Group, Inc. (NASDAQ: DUOT). The transaction, valued at approximately $87.8 million, closed on September 30, 2026.
Under the terms of the Equity Purchase Agreement, Axe Compute fully repaid the SPV's pre-existing asset-backed loan of approximately $87.8 million. The remaining consideration consists of a deferred purchase price of $42.9 million, payable to Duos in monthly installments of $715,000 over a 60-month period. This payment obligation is due in full within 12 months following the closing of the acquisition or the date Axe Compute secures new financing backed by the cluster.
The acquired assets include 288 Supermicro B300 servers containing 2,304 NVIDIA B300 GPUs, along with associated networking equipment. The company expects to generate approximately $364.6 million in revenue over the life of the customer agreement, which has been extended from three years to five years, running through 2031 with renewal options.
Duos Technologies will continue to own and operate the facility, covering all colocation and energy costs for the five-year term. This arrangement ensures Axe Compute's power and facility expenses remain fixed for the duration of the customer contract.
