Tether Group Inks Deal With Nvidia, Acquires 10K GPUs Plus 20% Stake In Northern Data
Portfolio Pulse from Khyathi Dalal
Tether Group is acquiring 10,000 Nvidia H100 GPUs for $420 million and a 20% stake in Northern Data. Northern Data plans to rent the chips to AI startups. The deal will be conducted through an Irish shell company, Damoon. Northern Data will acquire a 70% ownership stake in exchange for shares equal to 20% of its ownership. The total cost of the deal remains undisclosed.
September 21, 2023 | 2:37 pm
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POSITIVE IMPACT
Nvidia is selling 10,000 H100 GPUs to Tether Group for $420 million.
The sale of 10,000 GPUs to Tether Group is a significant deal for Nvidia, which could boost its revenues and potentially its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Tether Group is acquiring 10,000 Nvidia GPUs and a 20% stake in Northern Data.
The acquisition of Nvidia GPUs and a stake in Northern Data could have a neutral impact on Tether's value as it's unclear how this will affect its operations.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70