XMax Sees Project-Backed Businesses Generating More Than $100 Million Over Five Years

XMax Inc. expects businesses supported by a new South Korean GPU computing project to generate more than $100 million in cumulative revenue over five years. The projection depends on deploying the capacity and commercializing the company’s AI platforms.

XMax signed a 60-month services agreement with Singapore-based DSH HYPER PTE. LTD. on Oct. 28. DSH obtains the computing capacity from kt cloud Co. Ltd. under a separate agreement, and XMax is not a party to that upstream deal.

Service and billing began Oct. 29 with 60 NVIDIA B300 nodes, or 480 GPUs, and 300 terabytes of storage. XMax plans to expand the setup to 64 nodes with 512 NVIDIA Blackwell Ultra B300 GPUs and 560 terabytes of storage. Expansion components become billable after delivery and acceptance.

The project is intended to support API-billed inference, managed model services and enterprise AI applications through XMax’s NeoCloud and AI Token Factory platforms. The company’s revenue projection is tied to planned deployment and commercialization of those services; it is not the amount XMax owes under the capacity agreement.

XMax reported $2.7 million in company-wide net sales for the quarter ended June 30. That figure covers one quarter and the company as a whole, while the new projection covers businesses supported by the GPU project over five years.

The agreement lists about $122.5 million in scheduled service charges through Oct. 28, 2031. The amount is payable by XMax, excludes applicable taxes and is subject to adjustments, including those connected to expansion delivery and acceptance.

The long-term commitment depends on XMax board approval of required security and delivery of documents by Nov. 17. A nonrefundable setup fee of about $2.1 million is due Nov. 6. Failure to satisfy those requirements would prevent the 60-month term from taking effect and end the initial arrangement.