🇺🇸Neocloud Axe Compute (Nasdaq: AGPU) closed its acquisition of Duos Technologies’ (Nasdaq: DUOT) GPU subsidiary on September 30, repaying approximately $87.8 million in debt.

Both companies’ Form 8-K disclosures identify a completed acquisition, not a proposed transaction. Axe acquired 100% of the outstanding membership interests in Duos Edge AI – GPUaaS, LLC, a Delaware limited liability company previously wholly owned by Duos; GPUaaS means GPU-as-a-Service.

The acquired special-purpose vehicle held 288 Supermicro B300 servers containing 2,304 GPUs, together with associated networking equipment. Axe repaid approximately $87.8 million of the subsidiary’s pre-existing debt in full and separately assumed a deferred purchase-price obligation to Duos.

Axe’s filing says its transaction summary is qualified by the equity purchase agreement, which it stated would be filed with the quarterly report for the quarter ended September 30, 2026. It also distinguishes the acquisition disclosure from the accompanying press release: the latter was furnished under Item 7.01, rather than deemed filed for Section 18 purposes.

Duos’s separately filed press release says the sale removes approximately $98.1 million of prospective equipment financing. That company-disclosed figure concerns prospective financing and should not be substituted for the $87.8 million of existing debt actually repaid.