1 year ago
Northern Data Group has confirmed a €575 cardinal ($610M) indebtedness financing from Tether Group, a awesome of heightened enactment successful the high-performance computing assemblage responding to the artificial quality (AI) request surge. The steadfast elaborate that the backing is poised to beforehand Northern Data’s unreality services and hardware capabilities, focusing connected generative AI technologies.
Northern Data Group Nets €575M From Tether to Supercharge AI and HPC Expansion
The Frankfurt-based Northern Data Group, a bitcoin (BTC) mining institution expanding into specialized high-performance computing (HPC) infrastructure, has secured a financing woody with Tether Group. The €575 cardinal successful funds are intended to boost Northern Data’s concern successful cutting-edge hardware, which is captious for advancing the adjacent procreation of generative AI.
The steadfast noted that the concern by Tether, the largest stablecoin issuer successful the crypto space, reinforces Northern Data’s presumption successful the expanding HPC landscape. It volition alteration Northern Data to standard its generative AI unreality work supplier offerings. The surging involvement successful generative AI has exerted pressure connected information centers, precipitating a scarcity of abstraction and driving up infrastructure expenses.
Northern Data believes this is simply a captious determination arsenic request for computational powerfulness continues to climb. Tether’s foray into the HPC arena done this financing aligns with a broader strategy of supporting infrastructure captious to AI and blockchain technologies. Echoing the sentiment of strategical expansion, Tether’s CEO Paolo Ardoino stated:
Tether Group is arrogant to enactment Northern Data Group successful its quality to supply customers entree to flexible, energy-efficient high-performance computing infrastructure.
Through its subsidiary, Taiga Cloud, a generative AI unreality work provider, Northern Data Group supplies energy-efficient computing powerfulness to businesses and probe institutions, powered by the latest NVIDIA technology. The quality comes aft Tether’s important investment of $420 million successful Nvidia’s H100 GPUs, signaling a large determination into the AI hardware market.
This improvement is successful enactment with Tether’s caller acquisition of a 20 percent involvement successful Northern Data, an concern that followed its task into bitcoin mining and adding BTC to the company’s equilibrium sheet, among others. The institution released its assurance sentiment report, examined by BDO, earlier this week.
What bash you deliberation astir Northern Data securing a indebtedness from Tether to grow HPC services? Share your thoughts and opinions astir this taxable successful the comments conception below.
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