Tether has committed to its strategy investing into AI technologies by purchasing over 10,000 NVIDIA H100 Tensor Core GPUs, a type of chip, at a total cost of approximately €400m.
The purchase will see Taiga Cloud, part of the Northern Data Group, build on its position as Europe’s largest independent cloud service provider of NVIDIA hardware.
The company will begin installing the H100 GPUs on a coordinated deployment schedule, with customer access beginning in late Q4 2023, as part of the company’s plans to have more than 10,000 H100 GPUs fully deployed by mid-2024.
Paolo Ardoino, Tether’s chief technology officer, said: “We are excited about this investment into Northern Data Group as it represents a fresh venture into new technological frontiers.
“This investment underscores our commitment to responsible growth and innovation while preserving the strength and integrity of Tether tokens’s reserves.”
This large scale move is set to underpin Taiga’s Cloud Service Provider (CSP) offering.
Karl Havard, managing director, Taiga Cloud, Northern Data Group’s Cloud Division, said: “Unlocking the true potential of AI and ML is firmly established as a priority for businesses, regardless of sector or size. Taiga Cloud’s substantial investment into NVIDIA’s highly sought-after H100 GPUs firmly establishes our brand at the centre of delivering this innovation and underpins Taiga’s ambition to make computing power accessible to organisations across the region.
“Based in Europe, Taiga Cloud provides access to the largest in-region clean-energy-powered, scalable AI and ML compute capacity, helping our customers achieve data sovereignty while meeting European ML and AI compliance standards.”
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