Tether spent ~$420M on 10K Nvidia H100 GPUs and a 20% stake in Frankfurt-based bitcoin miner Northern Data, which plans to rent the chips to AI startups
A $40,000 computer chip has become one of the hottest commodities in the tech industry. Startups are scrambling to buy up Nvidia's H100 …
Forbes Iain Martin
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Damoon, a @Tether_to subsidiary in which bitcoin miner @NorthernDataAG acquired a stake, has purchased some $427 million worth of @nvidia chips for generative AI cloud computing, the companies said Thursday. @sndr_krisztian reports https://www.coindesk.com/...
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AI's New Backer: Stablecoin Tether Makes A $420 Million Bet On Cloud GPUs