Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Successfully transitioned NC1 into active customer deployment, with 20 megawatts currently available and the full 40 megawatts expected to reach run rate billing by the end of August.
Attributed the slight delay in the NC1 ramp to commissioning issues with switchgear equipment and the need for tight coordination with customer equipment installation, though contracted economics remain unchanged. Pivoted the cloud services business toward larger, longer-duration engagements, securing over $540 million in aggregate contract value since the previous earnings call. Leveraged a 'retrofit-first' development approach to prioritize sites with existing infrastructure, providing a speed-to-market advantage in a supply-constrained environment for 2027 capacity.
Demonstrated proprietary cross-data center networking technology capable of 111.2 terabits per second bandwidth, intended to aggregate geographically separated facilities into virtual superclusters. Strengthened the management team by appointing Justin Zhu as CFO, ensuring dedicated financial leadership as the company moves from development to stabilized operations. Entered exclusivity with a lender consortium for NC1 permanent financing, which is expected to recycle capital into the next phase of the development pipeline upon completion.
Actively negotiating a purchase agreement for a new site capable of supporting 60 megawatts in 2027, with potential scaling to over 250 megawatts over time. Targeting a year-end completion for a 5-megawatt expansion at NTL2, evaluating both traditional colocation and vertically integrated cloud deployment paths. Anticipating Duke Energy to provide a delivery schedule for the next 45 megawatts of gross capacity at NC1 in the near term, with strong inbound interest already recorded.
Developing a 'managed services' model to allow customers to fund hardware while White Fiber operates the infrastructure, creating a capital-light path to incremental margins. Recorded $12.3 million in revenue and $4 million in related expenses associated with a previously disclosed customer termination in the cloud services segment. Recognized $2.2 million of bad debt expense during the quarter linked to the same customer termination event.
Management cautioned that while exclusivity has been reached for NC1 financing, there is no assurance the deal will close on favorable terms or at all. Supply chain constraints for high-density AI infrastructure remain a persistent headwind, requiring disciplined coordination with equipment vendors and utilities. Nvidia-level potential. 30M+ investors trust Moby to find it first.
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