Alpha Compute Secures $32.2M Contract, Activates 504-GPU Cluster and Plans 576-GPU Deployment
Alpha Compute won a $32.2 million, two-year contract delivering $16.1 million in revenue (up from $30,000 in Q1) and forecasts $21 million over 12 months including its pending GAMEE acquisition. It activated its first 504-GPU ALPHA-01 cluster, began constructing a 576-GPU ALPHA-02, and holds $10.2 million cash.
1. Major Contract Win and Revenue Outlook
During Q2, Alpha Compute secured a $32.2 million, two-year agreement with a leading AI research firm, yielding $16.1 million in annual contracted revenue, up from $30,000 in Q1. The company projects $21 million in revenue over the next 12 months, reflecting the pending GAMEE acquisition and a $200 million qualified sales pipeline.
2. Expansion of GPU Infrastructure
Alpha Compute brought its first enterprise-scale ALPHA-01 Blackwell cluster online with 504 NVIDIA B200 GPUs powered entirely by hydroelectric energy and has commenced construction of the 576-GPU ALPHA-02 cluster in Sweden, targeting a Q3 go-live. Its Confidential Compute Cocoon stack is in pilot phase as Telegram begins scaling applications.
3. Financial Position and Strategic Initiatives
As of May 21, 2026, the company reported $10.2 million in cash and cash equivalents, $66.9 million in total assets and $26.6 million in GPU lease liabilities and TON coin-collateralized debt. Key strategic moves include closing the GAMEE acquisition by May 31, launching a U.S. government contracting entity in Q3, and establishing Alpha Compute Capital for AI GPU financing.