The Investment Thesis · In 10 Seconds

NOVOThe Airbnb of AI Inference

The Market

AI companies need ever more compute — yet capacity is fragmented across data centers, clouds and specialist providers.

The NOVO Model

NOVO becomes the Airbnb of AI Inference: the platform connects demand with global compute capacity and workloads are routed to the best execution option by cost, availability, latency, region and compliance.

NOVO does not build its own data centers. Saudi Arabia can serve as an anchor-supply market for structurally attractive energy economics; global partners provide latency, resilience and data residency.
Target: $0.49 per 1M processed tokens in the defined reference product and >50% long-term gross margin — after contractual validation of COGS.

01

The Problem · A Growing Market Without a Simple Access Layer

AI Needs More and More Compute — Procurement Remains Complicated

01

Agentic AI Increases Consumption

A conventional AI request may trigger one model call. An agent plans, uses tools, checks results and calls models repeatedly — turning one task into many inference steps.

02

Compute Capacity Is Highly Fragmented

Capacity sits across different clouds, data centers and inference providers — with different prices, regions, hardware classes and contracts.

03

The Enterprise Challenge

Enterprises do not want to manage this complexity themselves. They need reliable access, predictable capacity, data protection, billing and clear SLAs.

02

The Solution · One Access Layer Instead of Ten Infrastructure Contracts

NOVO Connects Available Compute Capacity with Growing AI Demand

01

Capacity originates

Data centers and compute partners provide available or reservable inference capacity.

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02

NOVO aggregates

NOVO sources from multiple partners and unifies pricing, regions, availability and commercial terms in one platform.

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03

Enterprise Access

AI companies get reliable access through NOVO instead of managing many separate infrastructure contracts.

$0.49

target price per 1M tokens

1 API

for multi-provider capacity, routing and enterprise policies

Asset-light

secure supply contractually instead of building data centers

The logic: NOVO does not own the data centers. NOVO owns the orchestration and customer layer: procurement, routing, policies, billing and SLA abstraction. Like Airbnb brings supply and demand together on one platform, NOVO aggregates global compute capacity and makes it accessible to AI companies through one unified access point.
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Why Now · Three Developments Are Converging

The Right Time for a New Inference Layer

AI Usage Is Growing Rapidly

After the training boom, everyday AI usage is becoming a permanent infrastructure market. Every app, copilot and agent creates ongoing compute demand.

AI Agents Multiply Usage

AI agents do not execute just one request. They plan, check, use tools and call models repeatedly — sharply increasing inference volume.

New Capacity Is Emerging Worldwide

The GCC, Europe and specialist AI data centers are adding new capacity. Saudi Arabia offers attractive conditions for building and sourcing compute capacity.

Market evidence: S&P Global / 451 Research projects the broader AI infrastructure market to grow from approximately $337bn (2025) to $1.2tn (2030). NOVO deliberately does not derive a blanket TAM from this: the relevant wedge is externally sourced inference capacity for AI-native and enterprise workloads where price, capacity, region and contract abstraction drive purchasing decisions.
Source: S&P Global Market Intelligence, AI Infrastructure Forecast, May 2026 · Market size = industry context, not a NOVO revenue forecast.
04

The Economics · Simply Explained

Buy Efficiently.
Sell Competitively. Scale.

01

Procurement

Procurement target: no more than $0.20–0.25 total cost per 1M processed tokens for a defined reference case. The model uses $0.22. Important: this is not yet a confirmed supplier price and must be substantiated by concrete quotes and contracts.

02

Sales

Target selling price: $0.49 per 1M processed tokens in the reference product. Large enterprise customers with committed volumes could receive prices of roughly $0.39–0.44 depending on volume.

03

Margin

Target economics at scale: $0.49 revenue minus $0.22 total cost = $0.27 gross profit, or 55.1% gross margin. During the build-out phase, actual margin may be materially lower because of lower utilization and capacity reserved in advance.

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The Moat · A Compound Moat, Not a Feature List

With Every Stage of Scale NOVO Becomes Harder to Replace

SCALE

Supply + Energy

Anchor supply in energy-efficient regions plus multiple global providers. The advantage only counts once NOVO can contractually prove delivered power cost, $/GPU-hour and availability.

LAYER

Routing Data + Enterprise Lock-in

Every production workload creates proprietary data across model × hardware × geography × price × latency × utilization. Integrations, policies, commitments and SLA history increase switching costs.

MOAT

Financing + Commitments

Customer minimums, supplier financing and Ijara/infrastructure financing are designed to scale capacity without funding every incremental compute dollar with equity.

MOAT

Compliance + Residency

Zero-persistent-retention, data residency and enterprise security are built as auditable architecture. Claims become proven only after technical validation and external review.

Compound Flywheel: demand → better capacity terms → higher utilization → better economics → more routing data → better enterprise experience → more demand.
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Market & Competition · Preview of the Competitive Landscape

Where NOVO Intends to Compete

01
Competitive economics

NOVO target rate: $0.49 per 1M tokens. The detailed analysis benchmarks it against public reference pricing from Groq, Together AI and other providers.

02
Aggregation, not a single provider

Multiple compute sources are intended to form one available capacity layer, with routing across providers and regions.

03
Enterprise, not commodity

One access point for capacity, routing, residency policies and SLA abstraction. Asset-light, without building owned data centers.

Inside the detailed analysis: hyperscalers, Together AI, Fireworks, Groq, DeepInfra and OpenRouter · price references · feature matrix · positioning logic

Open Detailed Competitive Analysis ↗
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Go-to-Market · From a Few Large Customers to Predictable Revenue

Not Millions of Small Customers — but Large AI Workloads

LAND

Target customers: AI-native companies, agentic-AI platforms and large enterprise AI workloads with high, recurring inference demand.

EXPAND

Annual minimum commitments make demand more predictable. As volume grows, additional models, regions and capacity tiers are added.

01Win a major workload

Start with a clearly defined, high-volume inference workload at AI-native and enterprise customers.

02Contract the demand

Multi-year minimum commitments and reserved capacity make demand and procurement more predictable.

03Expand inside the account

Add models, regions and workloads to grow volume per customer — without acquiring millions of small users.

Go-to-market logic: NOVO optimizes for a small number of strategic enterprise customers with recurring compute demand, not small transactions. Contract value, expansion and long-term utilization of aggregated capacity drive scale.

08

Scale · The Path to a Platform Company

From the Inference Wedge to a Global Compute Marketplace

2027
Proof

Production-ready core product, first supplier and customer contracts; management target: ~$3–5M annualized commitments.

2028
Repeatability

Multiple infrastructure partners, enterprise security and repeatable sales. Management case: ~$15–25M revenue.

2029
Scale

Management case: ~$50M+ revenue and >50% target gross margin as utilization grows.

2030
Platform

Management case: ~$250M revenue, derived from growing customer count × average contract value × expansion into additional workloads/regions. To put potential enterprise value in context: at roughly $250M of annual revenue, an 8–15× revenue multiple would imply approximately $2.0–3.75B of enterprise value. This is a scenario, not a forecast.

The valuation is not a forecast. The multiple is a sensitivity, not a claim: it depends on growth, realized gross margin, retention, customer concentration, capital intensity and platform differentiation. The unicorn case exists only if these metrics are proven operationally.

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Strategic Financing · Up to $35M · Milestone-Based

One Strategic Capital Partner. Up to $35M Released Against Clear Proof Points.

Capital Framework at Full Deployment

Capacity Commitments & Supplier Deposits $12M
Platform Development & Core Software $8M
Core Team, Operations & Working Capital $6M
Compliance, Security, Riyadh Presence & Legal $4M
Enterprise Sales & Market Development $5M

The NOVO Principle

Prove Supply At least two independent capacity sources; RFQs/contracts substantiate $/GPU-hour and enable a traceable delivered-COGS bridge.
Prove Demand Pilot, MSA and capacity commitments qualify demand; target range ~$3–5M annualized commitments, not presented as already contracted ARR.
Prove Economics Reproducible production benchmarks validate price, throughput, utilization and the path to >50% gross margin.
Prove Scale As demand grows, compute should increasingly be matched with customer commitments, supplier financing and specialized infrastructure financing.

The up-to-$35M amount is a total financing framework, not a day-one payment. Capital is intended to be released in tranches only after pre-agreed, objectively measurable milestones are achieved. The allocation shown represents the target framework at full deployment; as demand grows, larger compute blocks should increasingly be matched with customer commitments, supplier financing and specialized infrastructure financing. The financing is designed as a long-term partnership with one strategic capital partner. Following successful expansion, that partner can provide additional growth capital to support NOVO through global scale and minimize the need for additional equity investors.

TRANCHE 1 · VALIDATEProve Supply + Economics

2+ independent capacity sources, a defensible COGS bridge and reproducible production benchmarks.

TRANCHE 2 · COMMERCIALIZEProve Demand + Contracts

Pilots, LOIs/MSAs and first annualized customer commitments establish the basis for the next release.

TRANCHE 3 · SCALEFund Proven Scale

Further capital funds capacity and go-to-market only after demand, economics and operational delivery are validated.

NOVO Is Not Building the Next Data Center.
NOVO Is Building the Airbnb of AI Inference.

Own the Customer Relationship. Aggregate the Infrastructure.

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