IPO
Company Profile
GPU-as-a-service cloud provider delivering NVIDIA-based compute clusters for AI training and inference to underserved mid-market and enterprise customers, pursuing a Nasdaq direct listing under ticker QMLS.
Founded 2019Marietta, Georgia$515M raised
Investors
ATP FundPermian LabsUSD.AI
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QumulusAI FAQ
- How much has QumulusAI raised?
- QumulusAI has raised approximately $515M in total funding to date.
- Is QumulusAI publicly traded?
- No. QumulusAI is privately held.
- Who are QumulusAI's investors?
- QumulusAI's investors include ATP Fund, Permian Labs, USD.AI.
Coverage Timeline
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IPODirect listing filed
QumulusAI Files S-1/A for Nasdaq Direct Listing as GPU-Cloud Provider to Underserved AI Customers
QumulusAI filed a seventh S-1/A amendment on July 1 ahead of a planned Nasdaq direct listing, detailing an Atlanta-based GPU-as-a-service business built from the 2022 merger of a blockchain-hosting company and a data-center asset firm, later rebranded after acquiring The Cloud Minders in 2025. The company reported $3.4 million in quarterly revenue against a $5.5 million operating loss, is scaling toward 120 megawatts and up to 90,000 Nvidia B200/B300 GPUs, and disclosed going-concern risk in its filing.
IPO
QumulusAI Amends S-1 Again as GPU-Cloud Provider for Underserved Mid-Market AI Teams Nears Nasdaq Debut
IPOS-1/A filed
QumulusAI Amends S-1 Again as GPU-Cloud Provider for Underserved Mid-Market AI Teams Nears Nasdaq Debut
QumulusAI filed its latest S-1/A amendment with the SEC on June 26, continuing a string of amendments dating back to February as it works toward a Nasdaq listing. The company delivers rapid-deployment, GPU-powered cloud infrastructure targeted at small and mid-market AI teams — machine learning groups, AI infrastructure startups and research institutions — that large hyperscalers often underserve or price out.