Miami has attracted another tech company to the booming financial district.<\/p>\n
Axe Compute says it\u2019s relocating from Pittsburgh to Brickell. The move will initially include Chief Executive Office Christopher Miglino and a small team.<\/p>\n
The new office can accommodate about 30 employees, so the company has started hiring in South Florida for administrative and support roles.<\/p>\n
Axe, founded in 2002, was initially a biotech and AI company called Predictive Oncology. It made a sharp pivot late last year.<\/p>\n
The AI Infrastructure firm listed on Nasdaq will move its headquarters to 801 Brickell Ave., Axe announced on Thursday.<\/p>\n
Axe is the latest in tech entrepreneurs migrating to the Sunshine State and looking to create an alternate hub to the more traditional and much better financed startup regions. But Axe isn\u2019t coming from Silicon Valley or New York. It\u2019s moving to Miami from Pittsburgh, also the hometown of another Miami transplant, Dan Marino.<\/p>\n
The company is the second from western Pennsylvania to form ties with Miami\u2019s tech community in less than three months. In September, the prestigious university Carnegie Mellon announced a 35-acre second campus in Wynwood, thanks in part to a $3 billion gift from Miami billionaire Kenneth Griffin.<\/p>\n
Axe designs, deploys, owns and operates graphic processing units, or GPUs, for other businesses. GPU units allow networks of computers or machines to connect to each other and perform powerful calculations or operations involving massive troves of data. They are one of the main engines of AI.<\/p>\n
Axe also helps build data centers, including one in Georgia, for businesses.<\/p>\n
The firm\u2019s clients are large or small businesses looking to use AI. Axe\u2019s technology allows customers to design, deploy, own and operate \u201clarge-scale dedicated AI infrastructure worldwide,\u201d according to the company website. The company says it has more than $3 billion in projects under contract in 2026.<\/p>\n
Axe\u2019s move to Miami provides \u201cgreater proximity to strategic partners, investors and a growing network of global business relationships,\u201d the company said in a statement. The firm also wants to expand its international reach.<\/p>\n
\u201cMiami has become one of the fastest-growing centers for finance and technology in the United States, and a gateway for international business, which makes it a natural home,\u201d CEO Miglino said in a statement. \u201cBeing here brings us closer to our partners, gives them better international access to us, and puts us at the intersection of the capital and talent building the next generation of AI infrastructure.\u201d<\/p>\n
The company also cited Miami\u2019s \u201cfavorable tax treatment for corporations and individuals,\u201d indicating that would help it attract and retain talent.<\/p>\n
Axe isn\u2019t yet profitable. In the second quarter of this year, from April 1 to June 30, the company had a net loss of $17.2 million. That\u2019s up from a net loss of $2.1 million in the same period in 2025. But it said in that quarter, it obtained $3.2 million of revenue. And it had $21 million of cash on hand at the end of that second quarter. That\u2019s an increase from $6 million one year earlier.<\/p>\n
Miglino, 57, only joined as CEO in February. He brings more than 25 years of experience building and operating public and private companies across technology, fintech, media and digital assets, Axe said in a February filing with the U.S. Securities and Exchange Commission.<\/p>\n
This story was originally published October 30, 2026 at 5:20 AM.<\/p>\n