The Nvidia H100, despite its $40,000 price tag, is in high demand due to its data processing capabilities, making it a valuable asset in the AI startup world. Tether's investment in Northern Data's AI business, which includes the purchase of the GPUs, is reportedly larger than the investments some countries have made in the sector. This puts Tether on track to become the "biggest independent AI player in Europe."
Key takeaways:
- Tether, the company behind the $83 billion stablecoin USDT, has made a strategic investment in Europe-based crypto mining firm Northern Data, marking its entry into the AI tech space.
- The investment was made via Damoon, a Tether group company, and while the exact amounts were not disclosed, it is reported that Tether purchased 10,000 Nvidia H100 GPUs worth $420 million.
- Tether plans to collaborate with Northern Data on various AI initiatives, peer-to-peer communications, and data storage solutions.
- The deal with Northern Data potentially positions Tether as the "biggest independent AI player in Europe."