Duos Technologies Signs $176M GPU-as-a-Service LOI, Secures 10MW Iowa Site and Appoints CEO
Duos Technologies signed a 3-year LOI with Hydra Host for a high-density NVIDIA GPU cluster expected to deliver $176 million in revenue, over 80% gross margin and more than $40 million of annual EBITDA, plus $25 million in colocation revenue. It also secured a 10 MW Iowa site and appointed Doug Recker as CEO.
1. LOI Secures Major GPU Hosting Deal
Duos Technologies entered a non-binding 3-year letter of intent with Hydra Host to deploy a high-density NVIDIA GPU cluster, modeled to generate $176 million in revenue, sustain gross margins above 80% and deliver over $40 million of annual EBITDA, alongside $25 million of incremental colocation revenue.
2. Expansion of High-Power Edge Data Centers
The company secured a ground lease in Iowa with access to up to 10 MW of utility power as its first strategic site, with additional locations under evaluation toward a long-term goal of 75 MW of distributed capacity. Duos’ High-Power Edge Data Center unit offers 100 kW+ per cabinet and 90-day deployment timelines to serve AI compute tenants.
3. CEO Transition to Drive Growth
Effective April 1, 2026, Doug Recker will assume the role of Chief Executive Officer, succeeding Chuck Ferry and focusing on scaling modular EDC deployments, expanding GPU hosting capabilities and executing a disciplined capacity expansion strategy to accelerate Duos’ transformation into a targeted Edge AI and digital infrastructure platform.