Exascale Labs Holdings XLAB

Exascale Labs Holdings Inc. is a next-generation AI infrastructure provider operating an asset-light, software-defined GPU compute platform and related AI infrastructure solutions. The company specializes in delivering GPU-as-a-Service (GaaS) and infrastructure solutions for AI deployments, focusing on large-scale AI workloads such as large language model training, fine-tuning, and high-concurrency inference. Its platform combines reserved and on-demand access to high-performance GPU capacity sourced from third-party data centers globally with GPU cluster management and optimization services for AI data center operators.

Exascale Labs Holdings Inc. generates revenue primarily through two product and service categories. The first is its GPU-as-a-Service (GaaS) offering, which provides scalable access to high-performance GPU capacity via bare-metal and virtual machine configurations under both on-demand and reserved usage models. The second is its Infrastructure Solutions category, which includes revenue-generating GPU cluster management and operational services provided to AI data center (AIDC) operators, encompassing planning, configuration support, monitoring, performance tuning, and ongoing operational assistance for large-scale GPU deployments. Additionally, the company has developed modular data center, high-density liquid cooling, high-voltage direct current (HVDC) power, data center interconnectivity, and energy storage solutions, though these have not yet generated revenue as of the date of this Annual Report.

The company operates through the following segments: GPU-as-a-Service (GaaS) and Infrastructure Solutions.

• GPU-as-a-Service (GaaS): This segment delivers scalable access to high-performance GPU capacity through bare-metal and virtual machine configurations, supporting both on-demand and reserved usage models. It is designed to address large-scale AI workloads including model training, fine-tuning, and high-concurrency inference. The GaaS offering includes software-defined AI compute services, infrastructure-level interfaces, and operational tools that enable customers and operators to provision and manage GPU resources at scale.
• Infrastructure Solutions: This segment provides GPU cluster management and operational services to AI data center operators, including planning, configuration support, monitoring, performance tuning, and ongoing operational assistance for large-scale GPU deployments. These services are revenue-generating and delivered pursuant to commercial service arrangements. The segment also encompasses modular data center solutions, high-density liquid cooling systems, HVDC power architectures, data center interconnectivity, and energy storage capabilities, which management believes are ready for commercial engagement but have not yet generated revenue as of the date of this Annual Report.

Exascale Labs Holdings Inc. operates in the rapidly evolving AI infrastructure market, competing against both general-purpose cloud providers and specialized AI infrastructure companies. Its competitive strengths lie in its purpose-built platform for large-scale AI workloads, proprietary software-defined efficiency through an Intelligent Scheduling System, asset-light delivery model, rapid deployment capabilities, and diversified customer base. The company differentiates itself by focusing on software optimization to maximize GPU utilization and reduce total cost of ownership, avoiding heavy capital expenditures on real estate and hardware ownership by leveraging third-party data center partnerships.

As of June 30, 2026, Exascale Labs Holdings Inc. served close to 50 distinct customers, with its largest single customer contributing approximately 20.1% of total revenue. The company serves developers, enterprise customers, academic and research institutions, and certain AI data center (AIDC) operators. Its diversified customer base reduces dependency on any single entity and reflects the widespread applicability of its service offerings across the AI ecosystem, including small-and-medium-sized enterprises (SMEs) and emerging AI startups that benefit from its accessible engagement model and dedicated technical support.