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    Is WhiteFiber (WYFI) Quietly Redefining Its AI Data Center Strategy With The NC-1 Anchor Deal?

    Simply Wall St·12/21/2025 22:14:46
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    • WhiteFiber’s Enovum Data Centers subsidiary previously signed a 10-year colocation agreement with Nscale Global Holdings for 40 megawatts of IT load at the NC-1 AI data center campus in Madison, North Carolina, carrying an estimated US$865 million in contracted revenue.
    • The deal makes Nscale the anchor tenant at NC-1, giving WhiteFiber clearer long-term revenue visibility and support for potential campus expansion tailored to advanced AI workloads.
    • Next, we’ll explore how anchoring NC-1 with a long-term, AI-focused tenant agreement shapes WhiteFiber’s broader investment narrative.

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    What Is WhiteFiber's Investment Narrative?

    To own WhiteFiber, you need to believe it can turn rapid top-line growth and an AI-first infrastructure footprint into sustainable, profitable cash flows before its limited cash runway becomes an issue. The new 10-year, US$865 million NC-1 contract with Nscale sharpens that story: it adds long-term revenue visibility, supports financing conversations for further buildout, and directly ties WhiteFiber to AI infrastructure demand at scale. In the near term, key catalysts now cluster around execution on NC-1 (on-time capacity delivery, phase-in of the 40 MW load, and starting billing from 2026) and any follow-on tenant or expansion announcements. The biggest risks shift less around demand and more around balance sheet strain, execution risk on a single flagship campus, and a still-young, loss-making organization being priced at a premium to peers.

    However, investors should also weigh how WhiteFiber’s short cash runway intersects with its capital-intensive buildout plans. Our valuation report here indicates WhiteFiber may be overvalued.

    Exploring Other Perspectives

    WYFI 1-Year Stock Price Chart
    WYFI 1-Year Stock Price Chart
    Seven Simply Wall St Community fair value estimates span about US$10.61 to over US$160 per share, reflecting very different views on WhiteFiber’s upside. Set against the company’s fast growth, deep losses and reliance on capital-heavy AI data centers, that spread underlines why it can help to compare multiple perspectives before forming your own view.

    Explore 7 other fair value estimates on WhiteFiber - why the stock might be worth over 9x more than the current price!

    Build Your Own WhiteFiber Narrative

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.