QAI
IQ Hedge Multi-Strategy Tracker ETF
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Hey, man. I'm not ducking you. Just getting around to getting back on here. My inbox is full too. * At some point the market will have to price in the dilution. Whether that is 25 million shares or whatever it might end up being, it will have to happen. When do you think that will be? Dilution will be gradual and the gradual increase in float size can be a good thing for growth when the combined company will only be starting with \~20M shares. They will likely wait til ChEF is completed before considering a traditional split to increase float size. Assuming they perform well. * How are you calculating your $2 billion market cap? We know for a fact they have 60-80 MW in capacity (probably more given the new shell companies set up in Missouri and NY) but as of March they only had 550 GPUs deployed, which is peanuts. There is nothing else to indicate they are operating anywhere near full capacity. Again, this isn't FUD: it's a genuine question. $500M is at least 7000 latest Gen Nvidia GPUS, full buildouts included. We have no idea about true MW capacity or current colocations. Website claims 4,000 GPUs deploying this year. May be factoring in the $500M deal in this. City govt's they operate in are ducking any questions I ask about the company. Anyone giving this much capital towards this much hardware is receiving full disclosure. It's safe to say QAI has a major partnership with a big player. My bet is META. * How confident are you of the 6 month lock up? I accept it is fairly standard in these types of transactions but I haven't seen anything to say it's a 100% certainty, outside of it being a fairly common requirement for PIPE investors Reverse mergers and SPACs officially file w/ an S-4. All new shares issued by an S-4 have to be locked up for a certain period of time. W/ SPACs usually PIPE unlocks first. Ironically, this is to ensure price stability. * What is your short to medium SP target, and why? Short-Mid term I expect to see at least $50 as a given. So like 4x give or take * Do you think legacy SONM shareholders will end up with a better deal in the short term relative to the Orbic $3.60 pre-split offer? Yes, Doogee offer of $3.60 was good but even though I don't personally have good feelings towards Sonim board currently, they made the right call with QAI + social mobile asset sale. Execution is bad. \- Yes SONM holders will
I have absolutely no idea what is taking them so long tbh. They have to get shareholder approval for the ChEF. I’d buy more but my brokerage isn’t letting me move money easily The only reason for the ChEF is to pay for the $500M QumulusAI server financing. Tbh the could announce Monday. They could also sit around and not announce like they have been for the past 4 months 😭 I don’t trust the sonm board with respect to creating shareholder value, most recent example being letting the shell stagnate to the point of needing a RSS. I’m highly confident, however, in Qai leadership team. Having a high share price is critical for QAI, this means they don’t have to give up as much ownership in the co w/ respect to the ChEF. So the 27th will be another Monday I will be hoping for news
Your 12.42 is accurate. My range is a guess at what it will close at on Friday. The value comes when the official news drops and when people realize how great of a company QAI is. They’re targeting $300M market cap. Which would put it around $17/share (post split), when factoring in the combined company. Based on all available info, QAI actual valuation compared to peers is at least $2B, meaning I’m anticipating the price to potentially 10x once all news and likely partnerships are disclosed post IPO.
Been following this trade for awhile, and full disclosure I bought and currently hold SONM shares. However, I'm not super well versed in some of these concepts so help me out with this and correct me if I'm wrong, on the 27th october the RSS goes into effect, putting the share value at around 12.42 dollars given the current pricing right? If QAI, shares will start at around 10-14 according to your prediction, where is the value? I'm gessing I missed something along the way, so very happy to be corrected.
Im tired. This breakdown given is so wrong. I have 145k shares and I'm not selling them. As explained on X, only a fraction of the 350M authorized shares will be issued. The ChEF clearly outlines that Chardan will buy UP TO $500M IN SHARES. QumulusAI CANNOT make Chardan buy more than $1,000,000 US DOLLARS on any trading day, period. If share price is $20/share, QAI can only sell 50k shares that day. Understand that the ChEF issuance is over 3 years. Chardan has to resell these shares strategically to profit. This will finance QumuluAI $500M lease of servers. There will not be a mass dilution of 350M shares sold on the open market. Please @ me on X anyone who wants to know more.
I’m not OP but the target is now essentially confirmed because the CEO of SONM is appointed to the QAI board. The official announcement can happen any day but will likely take place after the RSS goes in full effect
The RSS ratio is 1:18. That means if the RSS were to happen today (it will go through on the 27th), the post-RSS share price will be 18 x current price = 18 x 0.79 (as of pre-market) = $14.22 You then multiply that share price by the number of shares that will be issued (350 million minimum, authorised number is actually 1 billion), and you get a valuation of $14.22 times 350 million = 5 billion. That's all very well, but as a SONM shareholder you are still 5x worse off than you would have been had the Orbic offer went through (because 0.79 x 5 = 3.60). So the only way to justify REJECTING that offer is to have a QAI valuation of 25 billion. Hopefully that makes sense.
FWIW, I had GPT compile some data on companies that underwent a RSS prior to RTO. Shell shareholders typically did not do well following RTO though there are exceptions: # 📈 Aggregate Findings (based on 50+ historical cases) * **Average 1-month return post-RTO:** –25% * **Average 3-month return post-RTO:** –45% * **Average 6-month return post-RTO:** –60% * **Exceptions:** SPACs and a few high-profile tech or resource RTOs that had institutional backing sometimes *rose 100–300%* (e.g., DraftKings, Tilray, Bitfarms). The traits of the companies who did well post-RTO were ones with strong sector tailwinds (e.g. Crypto, Cannabis), real operations/revenue, and coincided with bull markets. You can make the argument that QAI has the traits of past "winners".
The pertinent thing is not that Mike is on the QAI board but that he was appointed to the QAI board in September at the same time the QAI restructuring happened (in preparation for going public).
The 8k has been filed. It confirms the RSS ratio and that Mike Mulica has been on the QAI board since September, so the thesis is all but confirmed. What is now very unclear is if there is truly any upside for SONM shareholders in QAI given the high RSS ratio. I'm still considering my position.
The risk is indeed in the authorised common shares and ChEF, but I don't agree the existing float was smoked regardless. When the board shot down the Orbic takeover offer in the summer at $3.60/share on the basis of the RTO being a better avenue to bring "share holder value" to SONM shareholders, that provided a pre-RSS baseline of what current SONM shares are worth in the new QAI company. This is where you have to start getting into all sorts of calculations and speculations regarding QAI valuation and the amount of dilution current SONM shareholders will face. The thing is, it is entirely possible that SONM management didn't expect the massive sell off when rejecting the orbic offer. Perhaps they thought QAI deal would've gone through much faster but there have been delays. Perhaps they thought we'd be at $3, not under $1. Perhaps they really don't give a fuck about existing SONM shareholders despite their fudiciary duties and what they say otherwise. One thing is for sure and that is this RSS ratio seems ridiculously excessive. It signals to me that either they need a lot of headroom because they need to buy more time for dominoes to fall with QAI, or QAI have SONM board by the balls: "*we will only take you over and give you (the board) the options and warrants in QAI (something that is common in these types of mergers) if you dilute existing SONM shareholders to hell".* At the moment, it looks like there's only two options. QAI is a monster company on a level that no one can anticipate or see something, or the SONM board is fraudulent.
Correct me if I’m wrong, but the asset sale needs to close before they can do the RTO. The 8-K shows the deal as still pending (but confirmed as in progress?), so we just have to wait for that to happen before we can expect any announcement of the RTO? Also, I’ve been seeing people talk about the reverse split ratio being bad. Maybe it’s not favorable given the optics, but as far as the resulting share of QAI that current SONM shareholders would get, if the deal is anything like that of VINC and we assume SONM will stick with the numbers from the previously filed LOI, SONM will be $17.5m of $300m (total mcap of QAI) so it doesn’t really matter how many shares of SONM there are and what price they are? There will be roughly 1m shares of SONM after the reverse split, and with the RTO there will be about 17m shares of QAI. 1m shares of SONM after split / 0.05833 (% share of SONM holders of the new company after RTO) ≈ 17m shares of QAI ≈ $17-18 per QAI share (300m valuation / 17m shares)? VS Let’s say SONM did 1-10 reverse split, ≈ 18m shares / 10 = 1,800,000 shares / 0.0583 ≈ 30,800,000 shares of QAI. 300m valuation / 30,800,000 shares ≈ $9-10 per share of QAI So the percentages remain the same, and the valuations remain the same, regardless of what price SONM shares are and how many there are before RTO? Am I missing something here?
Gotta assume SONM knows the RS and eventual RTO will be beneficial, otherwise they wouldn't be helping QAI with the RTO in the first place.
Can I ask why a higher ratio is bad? My impression is, if the RTO terms are anything similar to that of VINC, the shell shareholders will get roughly 5-6% of the QAI regardless. Why does a higher ratio limit the upside if the percentage share is the same regardless of the price?
So I know 1-18 is less than ideal, but even if QAI (assuming they're the RTO party) takes over we still have a pretty decent upside from current levels right? SONM is still o lying floating around 12m-ish market cap? Maybe im underthinking it, first time getting invoked in something like this. Very small position, 500 shares.
You've been pretty much right on everything so far other than the RSS ratio. When do you suppose QAI will make an announcement? Still any upside with the 1:18 split?
The 8k that came out 15 minutes ago says Mike Mulica was appointed to the Qumulus AI board. The RTO proxy statement hasn't been filed but that's pretty as much as close as you will get to a definitive statement that QAI is the target. The bigger concern at the moment is the 1-18 RSS ratio.
CXAI, SONM, WWR, DVLT, NUAI CXAI - workplace AI, and has a strong partnership with Google. Solid financials and exceeded EPS expectations for the last three quarters. Expecting the same for Q3. “The company achieved its largest ARR renewal with a Fortune 50 client and expanded its strategic partnership with Google Cloud for Agentic AI technologies.” - https://www.stocktitan.net/news/CXAI/cx-app-inc- On Oct 10, Wolverine Asset Mgmt purchased over 1m+ shares of CXAI, effectively making them the biggest institutional holder — bigger than Vanguard! Very bullish! https://whalewisdom.com/filing/wolverine-asset-management-llc-sc-13ga-2025-10-10-cxai SONM - Read this SONM update from this OP. SONM has signed a LOI for reverse take over (RTO) with an unnamed full stack AI factory provider, and the theory is that they’re QumulusAI. QAI also secured $500m in funding recently. This is an early bet, but very convincing- https://www.reddit.com/r/pennystocks/s/ui06oaPIpQ
CXAI, SONM, WWR, DVLT, NUAI CXAI - workplace AI, and has a strong partnership with Google. Solid financials and exceeded EPS expectations for the last three quarters. Expecting the same for Q3. “The company achieved its largest ARR renewal with a Fortune 50 client and expanded its strategic partnership with Google Cloud for Agentic AI technologies.” - https://www.stocktitan.net/news/CXAI/cx-app-inc- On Oct 10, Wolverine Asset Mgmt purchased over 1m+ shares, effectively making them the biggest institutional holder! Very bullish! SONM - Read this SONM update from this OP. SONM has signed a LOI for reverse take over (RTO) with an unnamed full stack AI factory provider, and the theory is that they’re QumulusAI. QAI also secured $500m in funding recently. This is an early bet, but very convincing- https://www.reddit.com/r/pennystocks/s/ui06oaPIpQ
CXAI, SONM, WWR, DVLT, NUAI CXAI - workplace AI, and has a strong partnership with Google. Solid financials and exceeded EPS expectations for the last three quarters. Expecting the same for Q3. “The company achieved its largest ARR renewal with a Fortune 50 client and expanded its strategic partnership with Google Cloud for Agentic AI technologies.” - https://www.stocktitan.net/news/CXAI/cx-app-inc- SONM - Read this SONM update from this OP. SONM has signed a LOI for reverse take over (RTO) with an unnamed full stack AI factory provider, and the theory is that they’re QumulusAI. QAI also secured $500m in funding recently. This is an early bet, but very convincing- https://www.reddit.com/r/pennystocks/s/ui06oaPIpQ
CXAI, SONM, WWR, DVLT, NUAI CXAI - workplace AI, and has a strong partnership with Google. Solid financials and exceeded EPS expectations for the last three quarters. Expecting the same for Q3. “The company achieved its largest ARR renewal with a Fortune 50 client and expanded its strategic partnership with Google Cloud for Agentic AI technologies.” - https://www.stocktitan.net/news/CXAI/cx-app-inc- SONM - Read this SONM update from this OP. SONM has signed a LOI for reverse take over (RTO) with an unnamed full stack AI factory provider, and the theory is that they’re QumulusAI. QAI also secured $500m in funding recently. This is an early bet, but very convincing- https://www.reddit.com/r/pennystocks/s/ui06oaPIpQ
CXAI, SONM, WWR, DVLT, NUAI CXAI - workplace AI, and has a strong partnership with Google. Solid financials and exceeded EPS expectations for the last three quarters. Expecting the same for Q3. “The company achieved its largest ARR renewal with a Fortune 50 client and expanded its strategic partnership with Google Cloud for Agentic AI technologies.” - https://www.stocktitan.net/news/CXAI/cx-app-inc- SONM - Read this SONM update from this OP. SONM has signed a LOI for reverse take over (RTO) with an unnamed full stack AI factory provider, and the theory is that they’re QumulusAI. QAI also secured $500m in funding recently. This is an early bet, but very convincing- https://www.reddit.com/r/pennystocks/s/ui06oaPIpQ
Hahaha, thanks for the recognition! I’m just spreading the good vibes and want everyone to get in early and win, especially if they’re still under the radar. Check out SONM as well. That’s my next bet. Read this SONM update from this OP. SONM has signed a LOI for reverse take over (RTO) with an unnamed full stack AI factory provider, and the theory is that they’re QumulusAI. QAI also secured $500m in funding recently. This is an early bet, but very convincing- https://www.reddit.com/r/pennystocks/s/ui06oaPIpQ
This is normal for an RTO. They’re dumb for considering it before news. But qumulus is absolutely the RTO target, Mike Mullica is interacting with QAI ceo on LinkedIn
Hey OP. One thing that’s been nagging me is the mismatch between Qumulus’ public claims and their apparent employee footprint. LinkedIn shows \~25 people, many of whom are investors/finance rather than engineers. If they’re truly running/expanding AI-optimised HPC data centres in multiple states, you’d normally expect a lot more in-house technical and operations staff. That said, there is evidence they’re a *real* operator. They have their own ASN (AS11504) with upstreams, an Atlanta HQ, and are clearly live on the network side. The gap could mean they’re running a very asset-light model (outsourcing EPC, colocation, and power builds) or they’re operating via separate developer/property LLCs. You mentioned you’ve found permits. Would you be able to share links or docket numbers? I’ve seen big rezoning/permit activity in GA and OK recently, but nothing directly naming Qumulus/QAI Moon LLC yet, so if you’ve tied those together it’d strengthen the picture a lot.
There are ETFs designed to function like hedge funds. QAI, ALPHA, and RPAR.
Quantum Artificial intelligence (QAI) is going to be the next big thing in 5-10 years. Buy cheap quantum stocks before they rocket like nvda and amd did
But wait until next time. AI by Quantum Computing we’ll call it QAI.
buy a hedging etf duh! HDG , QAI etc..
It does seem pretty lackluster, I agree. I knew QAI had been in the space for a while. I'll take a look at REMIX.
Don't know about QAI but I gots some bet-against-beta ETF and a commodities managed futures mutual fund
Any thoughts on hedge fund-like ETFs? Stuff like QAI? I have a fairly conservative asset allocation and use leverage to reach target returns. My hope here would be that hedge strategies represent an alternative asset class to equity, fixed income, and commodities. Something that has a positive return greater on average than the implied borrowing costs of using leverage (roughly, brokerage fees + the rate implied by futures contracts or options), but with a low correlation with other asset classes. I guess the worry is that a hedge fund with no skill and no "arb" left to squeeze (because it's using strategies everyone knows about) would return about the risk-free rate on average, and there's no reason to think an ETF would perform particularly well. Is that the issue with these?
There are ETFs for that. DBC, GMOM, LQDI, RLY, ALTS, PCEF are ones I use. Others include HDG, QAI, and IVOL.