According to Forbes, Tether is working on a $420 million deal involving artificial intelligence chips and Bitcoin mining company Northern Data.
The report pointed out that Tether spent $420 million to purchase 10,000 Nvidia H100 GPUs, which is about 2% of Nvidia's total annual shipment of 550,000 GPUs. H100 is the world's most advanced chip to date and can be used for artificial intelligence and high-performance computing.
The purchase was made on behalf of Northern Data, a German cryptocurrency mining company that aims to provide cloud access to these specialized chips to artificial intelligence startups. In return, Tether will receive a 20% stake in Northern Data.
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