Tether makes AI foray with huge bet on Cloud GPUs
Tether has made an entry into the AI space with a strategic investment in Bitcoin miner Northern Data. Media reports say Tether purchased 10,000 Nvidia H100 GPUs worth $420 million. Tether, the company behind the $83 billion stablecoin USDT, has marked its foray into the AI tech space with a strategic investment in Europe-based crypto mining firm Northern Data. A news release by Tether noted that the investment was made via Damoon, a Tether group company. The stablecoin issuer did not disclose the amounts involved, only stating that Forbes’ report had misrepresented the company’s “stake size in the investment.” “ We are excited about this investment into Northern Data Group as it represents a fresh venture into new technological frontiers ,” s AI d Paolo Ardoino, the Tether CTO. He added: “ This investment underscores our commitment to responsible growth and innovation while preserving the strength and integrity...