Duos Technologies Secures $65M in Share Offering to Fund $200M GPU Hosting LOI
Duos Technologies closed an 8.67 million share offering raising $65 million led by existing and new institutional investors. The proceeds will fund its ~$200 million NVIDIA GPU hosting LOI with Hydra Host and support expansion under incoming CEO Doug Recker.
1. Closing of $65 Million Public Offering
Duos Technologies completed the sale of 8,666,666 common shares, generating approximately $65 million in gross proceeds before underwriting discounts and expenses. The offering included strong participation from the company’s largest existing shareholders alongside new institutional investors, reflecting confidence in Duos’ strategic direction.
2. Funding NVIDIA GPU Hosting LOI
Net proceeds will enable Duos to capitalize on its approximately $200 million letter of intent with Hydra Host for NVIDIA GPU hosting services. Funds are earmarked to expand and commercialize the Edge Data Center business model, accelerating deployment of high-power GPU infrastructure for distributed AI compute.
3. Leadership Transition and Growth Plans
Doug Recker will assume the role of CEO on April 1, 2026, steering the company’s hyperscaler-aligned AI infrastructure initiatives. Under his leadership, Duos aims to scale operations to meet growing demand for Edge AI and GPU capacity, targeting sustained revenue growth and long-term shareholder value.