🇺🇸Datavault AI’s filed agreement conditions a $120 million upfront payment on closing to fund 48,000 NVIDIA H200 GPUs.

Datavault AI Inc. filed an executed term sheet under which Scilex Holding Company would contribute $120 million in cash at the transaction’s closing. The filing describes the payment as conditional on closing, rather than as financing that had already been received.

Datavault must use the money exclusively for its proposed “Quantum-Ready Edge Network” across an estimated 100 U.S. cities. Eligible uses include purchasing 48,000 NVIDIA H200 graphics processing units (GPUs), build-out, equipment, directly attributable working capital, and reasonable overhead.

The agreement says Available Infrastructures has 24,000 H200 GPUs in its warehouse and that another 24,000 would be purchased at a pre-fixed per-GPU price. It attributes an approximately $2.4 billion current market value for all 48,000 GPUs and projected annual revenue potential of $10 billion to $100 billion to Available Infrastructures; these are filed third-party estimates, not reported Datavault operating results.

The payment is to be secured by the GPUs in stock and those to be purchased until Scilex has received $180 million of the specified payments. Datavault would pay Scilex 30% of network gross revenue until payments reach $250 million, then 15% until cumulative payments reach $1.2 billion, followed by 5% of network revenue for the network’s lifetime.