QumulusAI, which provides cloud computing services through owned and colocated data centers, completed its direct listing on the Nasdaq on Thursday.
The company registered 39.5 million shares for sale, all held by existing shareholders. It did not raise new capital in the listing. During the period from January 1, 2025 to June 26, 2026, the company issued shares to investors at a price range of $3.00 to $23.15.
QumulusAI specializes in the deployment of GPU-powered solutions for AI applications, targeting small to mid-market customers as well as large enterprises. It operates over 800 GPUs across three colocation data centers in Marietta, Georgia and Kansas City, Missouri, and 60 MW of grid power in Watonga and Tulsa, Oklahoma, and an additional scheduled site in Denton, Texas which is not yet live, with plans to expand capacity to over 120 MW of IT load. Through its largest channel partner, RunPod, QumulusAI reaches over 10,000 AI developers and hosts approximately 2,000 monthly active users, while maintaining a deployment timeline of about 90 days for new GPU infrastructure.
The Marietta, GA-based company will trade on the Nasdaq under the symbol QMLS. As a direct listing without a firm commitment offering, there were no underwriters on the deal; instead, Chardan served as a financial advisor.
