Summary
Northern data group has stepped aside from its general crypto mining to generative AI. They’re selling their Bitcoin mining unit and Peak mining to raise money and dive in on building AI infrastructure and products.
Northern Data is all set on shifting its focus to AI, it is currently assembling funds by selling units to support its artificial intelligence ventures. The firm is well known for being a leading provider of artificial intelligence and high- performance computing solutions. They’ve also been posting strong growth in its AI business for the third quarter in a row. Their exit from crypto mining is seen as a move to capitalize increasing demand of AI technologies lately.
The firms main concern is to transform it into a fully AI-focused business that covers Europe’s largest Generative AI Cloud platform, and a portfolio of ingenious, purpose-built Data Centers. It can do so by using funds to boost its AI offerings, especially its Dynamic Enablement Services. They’re building scalable, eco- friendly infrastructure to power AI innovation across industries. Furthermore, they are also planning to use a portion of the fund in an unknown center. Additionally, the company has also promised improving their GPU to give support to its AI capabilities.
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