olivLaw · US equity research
Axe Compute Inc. AGPU
Finance Services · SIC 6199 · Vertical: Finance Services (SIC 6199)
Axe Compute Inc. (NASDAQ: AGPU) is an AI infrastructure platform providing enterprises with dedicated GPU compute capacity, transitioning away from its former oncology business toward compute services. The current question is whether the company can deliver the signed contracts, worth over 3 billion dollars in total value, while its present revenue is still small and net results are shaped by non-cash losses on digital assets.
At the close of 04 Nov 2026, Axe Compute Inc. (AGPU) stock was 7.44 USD (−1.59% on the day), with market capitalisation 86.2 m USD, beta 1.95, 52-week range 1.41–12.99 USD. Latest reported quarter (Q2 2026): revenue of 3.2 m USD (+119,772.9% YoY), net income of -17.2 m USD, diluted EPS -0.87 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 35.8
- weak (30–45)
- Bollinger (20, 2)
- 6.26 – 11.16
- in the lower half of the band · %B 0.24 · band width 56.2%
- SMA 50 / 200
- 10.27 / 6.63
- mixed trend
- MACD (12, 26, 9)
- -0.79 / -0.72
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −42.7% | −1.1% | −41.6 pp | — |
| 3 months | −19.0% | −0.5% | −18.6 pp | — |
| 6 months | +25.5% | +4.4% | +21.1 pp | — |
| Year to date | +4.1% | +12.3% | −8.3 pp | — |
| 1 year | +3.2% | +13.5% | −10.4 pp | −53.7% |
| 3 years | −85.6% | +76.4% | −162.0 pp | −63.8% |
| 5 years | −97.9% | +63.7% | −161.6 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3.9 k | 8.8 k | 110.3 k | 2.7 k | 3.6 k | 8.7 k | 35.3 k | 3.2 m |
| Cost of revenue | 11.2 k | 30.8 k | 45.1 k | 18.2 k | 8.4 k | 927 | 6.8 k | 3.0 m |
| Gross profit | -7.3 k | 769.1 k | 65.2 k | -15.5 k | -4.7 k | — | — | — |
| Operating income | -2.2 m | -2.1 m | -2.3 m | -2.7 m | -3.3 m | -172.7 m | -7.7 m | -17.3 m |
| Depreciation & amortisation | 39.8 k | 32.7 k | 32.6 k | 32.6 k ≈ | 32.6 k ≈ | 31.2 k | 28.4 k | 26.2 k ≈ |
| Net income | -3.1 m | -2.2 m | -2.4 m | -2.1 m | -77.7 m | -150.9 m | -7.7 m | -17.2 m |
| Diluted EPS | -7.26 | -4.88 ≈ | -5.12 | -0.23 | -107.25 | -2.24 ≈ | -0.36 | -0.87 |
| Capex | 0 ≈ | 6.5 k | 0 | 0 ≈ | 0 ≈ | 0 | 21.0 k | 17.1 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.4 m | 1.4 m | 1.3 m | 1.4 m | 1.5 m | 1.6 m | 84.8 k | 125.3 k |
| Revenue YoY | +115.6% | −0.0% | −11.3% | +13.4% | +6.0% | +8.1% | −94.8% | +47.7% |
| Net income | -10.1 m | -19.4 m | -25.9 m | -19.7 m | -25.7 m | -14.0 m | -12.7 m | -233.1 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | unavailable | -0.36 | -6.98 | -3.48 | -34.83 | -13.37 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | -714.5% | -1,373.7% | -2,067.0% | -1,383.6% | -1,709.6% | -859.1% | -14,932.3% | -186,053.4% |
| Free cash flow | -5.5 m | -8.7 m | -12.6 m | -13.1 m | -12.8 m | -13.2 m | unavailable | unavailable |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 10.8 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 47.7 m USD
- Total assets
- 52.9 m USD
- Debt / equity
- unavailable
- Current ratio
- 10.02x
- ROE
- unavailable
- ROA
- -805.7%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 1.3 m | 1.4 m | 1.5 m | 1.6 m | 84.8 k | 125.3 k | SEC (XBRL)· 31 Mar 2026verified |
| Cost of revenue | 447.2 k | 487.0 k | 505.1 k | 609.2 k | 78.3 k | 72.6 k | SEC (XBRL)· 31 Mar 2026verified |
| Gross profit | 805.1 k | 933.7 k | 1.0 m | 1.0 m | 797.7 k | 52.7 k ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Research & development | 372.7 k | 315.9 k | 320.3 k | 122.3 k | 2.2 m | — | SEC (XBRL)· 31 Mar 2026verified |
| Operating income | -25.4 m | -20.4 m | -26.0 m | -12.1 m | -10.3 m | -180.9 m | SEC (XBRL)· 31 Mar 2026verified |
| Depreciation & amortisation | 1.0 m | 1.3 m | 1.3 m | 244.8 k | 132.3 k | 129.0 k | SEC (XBRL)· 31 Mar 2026verified |
| EBITDA | -24.3 m ≈ | -19.1 m ≈ | -24.7 m ≈ | -11.9 m ≈ | -10.2 m ≈ | -180.8 m ≈ | SEC (XBRL)· 31 Mar 2026derived |
| Pre-tax income | -25.9 m | -20.3 m | -25.7 m | — | — | — | SEC (XBRL)· 21 Mar 2023verified |
| Income tax | 0 | -661.7 k | 0 | 0 | 0 | 0 | SEC (XBRL)· 31 Mar 2026verified |
| Net income | -25.9 m | -19.7 m | -25.7 m | -14.0 m | -12.7 m | -233.1 m | SEC (XBRL)· 31 Mar 2026verified |
| Diluted EPS | — | -0.36 | -6.98 | -3.48 | -34.83 | -13.37 | SEC (XBRL)· 31 Mar 2026verified |
| Weighted average diluted shares | 12.0 m | 54.9 m | 3.7 m | 4.0 m | 363.6 k | 17.4 m | SEC (XBRL)· 31 Mar 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue; Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 678.3 k | 28.2 m | 22.1 m | 8.7 m | 611.8 k | 10.8 m | SEC (XBRL)· 31 Mar 2026verified |
| Receivables | 256.9 k | 354.2 k | 331.2 k | 277.6 k | 34.2 k | 32.1 k | SEC (XBRL)· 31 Mar 2026verified |
| Inventories | 289.5 k | 387.7 k | 430.5 k | 480.8 k | 45.8 k | — | SEC (XBRL)· 14 May 2025verified |
| Current assets | 1.5 m | 29.5 m | 23.4 m | 10.1 m | 2.2 m | 42.8 m | SEC (XBRL)· 31 Mar 2026verified |
| Property, plant & equipment, net | 3.8 m | 2.5 m | 1.8 m | 491.2 k | 347.6 k | 223.1 k | SEC (XBRL)· 31 Mar 2026verified |
| Goodwill | 2.8 m | 6.9 m | 0 | — | — | — | SEC (XBRL)· 21 Mar 2023verified |
| Intangibles (excl. goodwill) | 3.4 m | 4.0 m | 253.9 k | 241.3 k | 51.0 k | — | SEC (XBRL)· 14 May 2025verified |
| Total assets | 13.1 m | 43.8 m | 25.7 m | 14.4 m | 5.0 m | 52.9 m | SEC (XBRL)· 31 Mar 2026verified |
| Accounts payable | 1.4 m | 1.0 m | 943.5 k | 1.3 m | 1.0 m | 1.8 m | SEC (XBRL)· 31 Mar 2026verified |
| Long-term debt | — | 0 | — | — | — | — | SEC (XBRL)· 31 Mar 2022verified |
| Current liabilities | 9.3 m | 3.2 m | 3.9 m | 4.0 m | 3.6 m | 4.3 m | SEC (XBRL)· 31 Mar 2026verified |
| Total liabilities | 10.4 m | 3.5 m | 4.0 m | 6.1 m | 5.2 m | 5.2 m | SEC (XBRL)· 31 Mar 2026verified |
| Equity | 2.6 m † | 40.3 m † | 8.3 m † | 8.3 m † | -202.6 k † | 47.7 m † | SEC (XBRL)· 31 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -12.3 m | -12.2 m | -12.4 m | -13.2 m | — | — | SEC (XBRL)· 28 Mar 2024verified |
| Capex | 298.4 k | 910.4 k | 419.9 k | 21.5 k | 9.5 k | 0 | SEC (XBRL)· 31 Mar 2026verified |
| Free cash flow | -12.6 m ≈ | -13.1 m ≈ | -12.8 m ≈ | -13.2 m ≈ | — | — | SEC (XBRL)· 28 Mar 2024derived |
| Investing cash flow | -167.5 k | -10.6 m | -475.7 k | -302.4 k | — | — | SEC (XBRL)· 28 Mar 2024verified |
| Financing cash flow | 13.0 m | 50.3 m | 6.7 m | 148.9 k | — | — | SEC (XBRL)· 28 Mar 2024verified |
| Share repurchases | 0 | 11.5 k | 27.7 k | 1.5 k | 0 | — | SEC (XBRL)· 31 Mar 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 3 of at least 6
- score weight coverage: 18.8% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 86.2 m USD
Key indicators
Coverage and freshness
Score by group
19% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the input exists, but its latest figure is far older than the latest reported period: not used
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 3 of at least 6; score weight coverage: 18.8% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -7,769.8% | 3 (vs peers) | 33% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -56.3% | 0 (on a fixed band) | 44% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.4x | 54 (on a fixed band) | 22% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial54/100 · 1/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partial3/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Axe Compute Inc (AGPU). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 125.3 k USD in 2025; YoY growth 47.7%; net margin -7,769.8%; ROE -1,565.2%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 18.8% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -7,769.8%
- Revenue CAGR 3Y: -56.3%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Finance Services (SIC 6199) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AXPAmerican Express Co | 223.0 bn | 18.7 | 35.9% | 27.9% | +6.4% | −9% / +95% |
| COINCoinbase Global, Inc. | 40.1 bn | — | -4.7% | -12.5% | +9.4% | −44% / +21% |
| SOFISoFi Technologies, Inc. | 22.4 bn | 36.3 | 7.1% | 104.3% | +23.1% | −42% / +138% |
| KLARKlarna Group plc | 5.2 bn | — | -11.9% | -7.8% | +24.8% | −56% / unavailable |
| GPGIGPGI, Inc. | 3.7 bn | — | -20.6% | — | −85.8% | −36% / +208% |
| BLSHBullish | 3.5 bn | — | -27.3% | -0.3% | −2.2% | −47% / unavailable |
| CIFRCipher Digital Inc. | 3.0 bn | — | -156.8% | -742.3% | +48.0% | −68% / +135% |
| MARAMara Holdings, Inc. | 2.7 bn | — | -107.2% | -430.2% | +38.2% | −42% / −43% |
| WLTHWealthfront Corporation | 1.7 bn | — | -20.5% | -19.4% | +18.2% | unavailable / unavailable |
| WDWalker & Dunlop, Inc. | 1.3 bn | 34.4 | 2.2% | 3.0% | +9.0% | −41% / −54% |
| KEELKeel Infrastructure Corp. | 1.3 bn | — | -87.6% | -230.6% | +72.0% | −40% / +47% |
| XYFX Financial | 1.2 bn | 5.9 | 20.2% | 19.2% | +35.8% | −28% / +15% |
| CDChaince Digital Holdings Inc. | 741.4 m | — | -12.3% | -182.5% | +277.9% | −30% / +622% |
| GDOTGreen Dot Corp | 727.1 m | — | -2.8% | -1.1% | +20.7% | +2% / +59% |
| JFU9F Inc. | 536.7 m | 23.2 | 4.7% | 125.2% | +12.2% | −52% / −43% |
| CANGCango Inc. | 272.7 m | — | -130.8% | -90.4% | +524.3% | −92% / −76% |
| BKKTBakkt, Inc. | 215.0 m | — | -15.9% | -1.3% | −32.1% | −70% / −87% |
| ZSQRZ Squared Inc. | 192.4 m | — | -25.9% | -642.0% | unavailable | −81% / −84% |
| DEFTDefi Technologies Inc. | 152.4 m | 2.3 | 74.0% | 62.9% | +215.5% | −74% / unavailable |
| HSDTSolana Company | 127.0 m | — | -183.2% | -1,302.8% | +1,057.1% | −49% / −100% |
| GHIGreystone Housing Impact Investors LP | 111.0 m | — | — | -5.1% | −6.4% | −33% / −72% |
| AGPUAxe Compute Inc | 86.2 m | — | -1,565.2% | -7,769.8% | +47.7% | +3% / −86% |
| YRDYiren Digital Ltd. | 68.9 m | 8.8 | 0.6% | 1.0% | −85.9% | −91% / −86% |
| BTCSBTCS Inc. | 54.6 m | — | -354.8% | -746.3% | +304.8% | −67% / +6% |
| ZSTKZeroStack Corp. | 47.4 m | — | -1,993.6% | -444.2% | −0.5% | −67% / −94% |
1- and 3-year price returns: for AGPU from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Axe Compute Inc. (NASDAQ: AGPU) is an AI infrastructure platform providing enterprises with dedicated GPU compute capacity, transitioning away from its former oncology business toward compute services. The current question is whether the company can deliver the signed contracts, worth over 3 billion dollars in total value, while its present revenue is still small and net results are shaped by non-cash losses on digital assets.
SWOT
Strengths
Weaknesses
- Actual revenue is still very small compared with the value of signed contracts, because recognition starts only at go-live 3.
- Digital assets concentrated in a single token create high exposure to volatility and network-specific events 1.
- Net results are dominated by non-cash losses on digital assets, which makes comparisons across periods difficult 3.
Opportunities
- If Build contract deliveries happen on schedule, revenue could rise substantially in the second half of the year 3.
- Selling or repositioning the Legacy Business could simplify the structure and focus resources on compute 2.
- Strong demand for GPUs could support further Build contracts with customers in the United States and Europe 3.
Risks
- Concentration in a single tokenhigh
The treasury is almost entirely in ATH, and problems specific to the Aethir network could have a disproportionate effect on the financial position 1.
- Execution of Build contractshigh
Revenue depends on on-time go-live of GPU clusters, and delays in hardware or facilities could shift revenue recognition 3.
- Liquidity and token lock-upsmedium
Part of the ATH holdings is locked or subject to transfer restrictions, which could limit rapid sales during market stress 1.
- Nasdaq listing statusmedium
The company was under a panel monitor on the equity requirement, and a new non-compliance could lead to a delisting determination 1.
- Dependence on third partiesmedium
The strategy depends on the developers of the Aethir network, custodians and other providers that the company does not control 1.
Investment thesis
What would need to be true (bull case)
- If signed contracts are delivered as planned, recurring revenue could become significant and reduce reliance on digital assets.
- The prepayment model could fund expansion without large amounts of own capital, an advantage if GPU demand stays high.
- Exiting the Legacy Business, if completed, could focus resources on compute and make results easier to interpret.
What would break the thesis
- Current revenue is still very small, and the value of contracts depends on execution and future deliveries that are not assured.
- Net results are strongly influenced by the valuation of the ATH token, which makes operating profitability hard to read.
- Low liquidity and concentration in ATH could turn a further price decline into a financing problem.
What to watch
- Go-live of the 260 million dollar cluster and start of revenue recognitionQ3 2026
- Execution of the contracts signed in July 2026 and facility preparation2026
- Trend in customer prepayments and operating cash flowQ3 2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Axe Compute Inc. was renamed from Predictive Oncology at the end of 2025 and extended its strategy toward compute for artificial intelligence, delivering GPU capacity to enterprise customers. The company operates two lines: the Compute Services and Treasury Management segment, which is the priority, and the drug discovery segment called the Legacy Business, for which management is exploring strategic alternatives. The model is asset-light with no owned data centers, and in 2026 the company introduced two offerings: Axe Compute Access for immediate access to capacity already online, and Axe Compute Build for long-term dedicated infrastructure 23.
Segments
Compute Services
This is the main revenue generator, with a GPU network of over 435 thousand units according to the annual report 1. In the second quarter of 2026 it produced its first full quarter of revenue, 3.2 million dollars, through the Access model 3. Revenue from Build contracts will be recognized only at go-live, and the 260 million dollar contract is targeted for the third quarter of 2026 3.
ATH digital asset treasury
The company held ATH tokens as a strategic reserve for access to compute capacity on the Aethir network, a strategy adopted in September 2025 12. The value of these assets fluctuates sharply and feeds directly into net results, producing significant non-cash losses in the second quarter 3.
Market context
Trends
- Demand for AI infrastructuretailwind
Demand for GPU capacity exceeds supply and global AI spending is growing fast 1. If this demand persists, the company's long-term contracts could provide predictable recurring revenue 3.
- Volatility of digital assetsheadwind
The price of the ATH token fell sharply between September 2025 and February 2026 and swings widely, directly affecting net results and liquidity 13. If declines recur, pressure on the balance sheet could increase.
- Customer prepayment fundingmixed
Customer prepayments rose quickly and supported operating cash flow in the first half of 2026, but these amounts are refundable only under limited conditions and depend on later deliveries 3. If deliveries are delayed, this funding source could become more fragile.
- Regulation of digital assetsheadwind
The regulatory framework for digital assets is evolving quickly in the United States and Europe, and new rules could affect token value and the company's access to these assets 1. Uncertainty remains significant.
Competitive position
The company is compared with centralized GPU cloud providers and other decentralized networks, and its pricing is positioned competitively against hyperscalers, according to the annual report 1. Its claimed advantage is flexibility on hardware and location, but rivals have far greater scale and resources 3.
On the Aethir network, competition among GPU capacity providers could intensify as the market grows, which may also influence the value of the ATH token 1.
- Centralized GPU cloud providers (hyperscalers)
The main benchmark for GPU capacity pricing and scale, referred to in the annual report without being named as a listed issuer.
- Other GPU-as-a-Service providers
Companies offering GPU capacity on similar models, whose competition could grow as the market expands.
- DCI Foundation (Aethir network)
The developer of the decentralized network from which the company sources part of its capacity, acting both as a partner and a dependency.
- Other decentralized compute networks
Decentralized GPU infrastructure projects competing for the same customers and investor attention.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report02 Nov 2026Departure or appointment of officers
- Current report05 Oct 2026Material agreement · Regulation FD disclosure · Financial statements and exhibits
- Current report17 Sept 2026Material agreement · Acquisition or disposition of assets · Financial statements and exhibits
- Current report17 Aug 2026Other events · Financial statements and exhibits
- Quarterly report14 Aug 2026
- Current report14 Aug 2026Results of operations · Financial statements and exhibits
- Current report27 Jul 2026Other events · Financial statements and exhibits
- Current report22 Jul 2026Other events · Financial statements and exhibits
- Current report09 Jun 2026Other events · Financial statements and exhibits
- Current report18 May 2026Results of operations · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Axe Compute Inc. · 31 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Axe Compute Inc. · 14 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Axe Compute Inc. · 14 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.