Axe Compute (AGPU) shares were up nearly 20% in Monday's premarket activity after the company said it secured a five-year $1.5 billion contract to deploy an Nvidia (NVDA) Blackwell-based dedicated artificial intelligence infrastructure cluster in the United States.

The company said that under the contract, it will supply more than 9,200 Nvidia Blackwell B300 graphics processing units in a purpose-built cluster.

Axe Compute said that in relation to the latest and previously announced contracts, it expects to receive more than $534 million in aggregate customer prepayments over the next 30 days.

The prepayments, along with project-level financing, are expected to cover the associated graphics processing unit and infrastructure capital expenditure, the company said.

Revenue from the latest and previously announced contracts is expected to boost its annual run rate to over $696 million upon deployment. The programs are expected to begin contributing monthly revenue during the current quarter.