Key insights
- Forum Edge AI, a joint venture of Forum Markets (FRMM), has secured a $94.4 million deal with Fireworks for 36 months of Nvidia B300 GPU capacity at its Dallas data center. This represents Forum Edge's first contracted customer commitment and is expected to be deployed in late December or early January. The agreement validates Forum Markets' AI infrastructure strategy and its focus on generating revenue from GPUs.
DALLAS - Forum Markets, Incorporated (NASDAQ:FRMM) announced today that its joint venture Forum Edge AI LLC has entered into a definitive agreement with Fireworks for a 36-month reservation of Nvidia B300 GPU capacity at its Dallas data center facility.
The agreement carries a total contract value of approximately $94.4 million, covering GPU capacity and associated CPU management node fees payable over the 36-month term, according to a press release statement. Fireworks has provided a substantial prepayment deposit to be credited against fees due across the term.
The GPUs are expected to be deployed at Forum Edge’s Dallas data center in late December or early January. The Dallas facility features existing permits, power access and physical infrastructure.
"This agreement is an important proof point for our AI infrastructure strategy and reflects our focus on bringing revenue generating GPUs to market quickly in a modular manner," said McAndrew Rudisill, chairman and chief executive officer of Forum Markets.
Fireworks provides inference, training and routing services for enterprises deploying generative AI applications. The company was most recently valued at approximately $17.5 billion, with backers including Nvidia, Atreides Management, Index Ventures and TCV.
Hosted AI, Inc. facilitated the relationship between Forum Edge AI and Fireworks through its AI commercialization platform.
The agreement represents Forum Edge’s first contracted customer commitment. Forum Markets describes itself as a company that sources and structures cash-generating assets in aerospace, AI and AI-powered consumer finance.
Forum Edge AI is a joint venture between Forum Markets and Edge Node Inc.
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