The disclosure and our analysis
Evidence dates
Evidence: Boost Run Inc. Form 8-K reporting a September 30, 2026 event, filed October 6, 2026, with the Cohere service agreement as Exhibit 10.1; Boost Run second quarter 2026 results release dated August 14, 2026.
What Boost Run disclosed
Boost Run LLC, a wholly owned subsidiary of Boost Run Inc. (Nasdaq: BRUN), entered into a service agreement with Cohere Inc. on September 30, 2026 to provide dedicated GPU cloud computing infrastructure and related services. [Source 1]
Key terms from the 8-K: [Source 1]
**Value:** Cohere committed to pay about $525.6 million over the term, subject to delivery and acceptance requirements and any termination. Part of it is a prepayment; the amount is not disclosed.
**Term:** about five years for each rack, starting when Cohere accepts that rack. The agreement does not renew automatically.
**Timing:** acceptance of the initial infrastructure is expected to begin in the second quarter of 2027.
**Delivery protection:** if a specified minimum amount of infrastructure has not been accepted by July 15, 2027, Cohere may terminate and receive a refund of all prepaid amounts. If the minimum has been accepted, Cohere may terminate the order for any infrastructure not yet accepted and receive the related prepaid amounts.
**Guarantee:** Boost Run Inc. guarantees its subsidiary's obligation to refund prepaid amounts, up to the prepayment received and not applied to fees.
What the contract adds
The filed agreement describes the service as access to an infrastructure platform including GPU servers, managed Kubernetes, CPU servers, shared storage and virtual CPU services. Racks not accepted or rejected within a validation period are deemed accepted. Once fees are due, Cohere's obligation to pay undisputed fees is described as absolute and unconditional, with no abatement, set-off or deduction. Pricing, rack counts and facility details sit in an order form, and commercial terms are redacted in the public filing. [Source 2]
Boost Run's footprint
In its August 14, 2026 results release, Boost Run said it operates six US data center locations, with three more scheduled to come online over six months, and that data center partnerships add 125 MW of power, bringing total accessibility to 253 MW. The release does not define the basis of those MW figures. Boost Run says it partners with data center facilities rather than describing them as owned. It reported $1.9 billion of total contracted revenue at that date and a $1.44 billion purchase agreement with Dell. These are company statements. [Source 3]
Buyer analysis
This is our analysis.
**This is a GPU cloud contract, not a colocation lease.** Cohere is buying dedicated compute as a service. Boost Run supplies the hardware and places it in partner data centers. Nothing in the filing describes leased data center space, critical IT load or a specific site.
**About $105 million a year, if spread evenly.** $525.6 million over about five years works out to roughly $105 million a year. That is our arithmetic. Actual payments depend on when racks are accepted and how much is prepaid, neither of which is fully disclosed.
**The delivery clause is the useful template.** A fixed outside date of July 15, 2027, with a full prepayment refund backed by a parent guarantee, shifts delivery risk to the provider. Buyers of GPU capacity or new-build colocation should ask for the same: a dated acceptance deadline, a refund or exit right tied to it, and a creditworthy party standing behind the refund.
**But acceptance flips the risk back.** Deemed acceptance after the validation period and an absolute payment obligation afterward mean the buyer carries the risk once racks are accepted. Buyers should know exactly what testing happens in that window.
