Exascale Labs has appointed Jake Carney as its new CFO, effective September 25, 2026. He replaces Gildas Bonnier, who had been serving as interim CFO for the past month while the company searched for a permanent appointment.
Exascale gives its head office as west Houston (on Gessner Road), although until last month its press releases were datelined San Francisco and its phone number has a Bay Area area code. The company provides GPU computing infrastructure for AI customers.
The company went public at the end of August through a merger with a SPAC, D. Boral ARC Acquisition I Corp. The SPAC deal valued the business at $500 million, based on $10 a share. The stock price has plunged since the deal closed and the current price is $1.85.
At the time of the going public, the company did not have a CFO. The CFO of the SPAC that took Exascale public was John Darwin, who previously worked at ARC Group Limited, an investment bank and management consultancy firm.
For the year to June 2026, Exascale had revenues of $14.8 million (up 111%) and a net loss of $12.2 million. Its market capitalization is $189 million.
Mr. Carney, 38, has a degree in Accounting and Finance from the Dublin Institute of Technology. He spent nearly five years at Beehive Fintech in Dubai as Investment Director, investing in small and medium-sized businesses across the Gulf. He then worked for two and a half years as Managing Director at ARC Group, where he set up its office in the UAE. More recently, he was CFO of Deal Flow Capital, a capital advisory firm, for six months to August 2026.
He is also the CFO of ARC Group Securities Acquisition I, another Nasdaq-listed SPAC, that went public in August 2026.
Mr. Carney will receive a base salary of $6,000 a month, or $72,000 a year.
I have added Exascale to the list of Houston-area public companies. You can see the complete list here.
