WhiteFiber signs over $700 million in AI cloud contracts as its 40 MW North Carolina site goes fully live

WhiteFiber, an AI infrastructure provider, said third-quarter revenue rose 19% from a year earlier to $24 million. Its net loss widened to $101.4 million, or $2.44 per diluted share, from $15.8 million, or $0.47 per share, in the same period of 2025.

Cloud services revenue was $18.1 million, while colocation revenue increased 232% to $5.6 million. The company recorded an operating loss of $12.4 million and roughly breakeven adjusted EBITDA. The net loss included an $80.8 million expense tied to the conversion of some convertible notes due in 2031.

WhiteFiber brought all 40 MW of contracted IT capacity at its NC-1 data center in North Carolina into operation and began billing for the full amount. Since its August earnings call, the company has signed cloud services contracts worth more than $700 million across five customers. It expects its signed cloud portfolio to generate about $365 million in annual revenue when fully deployed, targeted for the middle of 2027.

The company also entered a $300 million secured credit facility for NC-1, consisting of $200 million in initial term loans and a $100 million delayed draw facility. WhiteFiber held $147.6 million in cash and restricted cash at the end of September.