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HIVE Digital (HIVE) Betting Big on AI Data Centers

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) is one of the 8 best software penny stocks to buy now.

On March 16, HIVE Digital Technologies Ltd. (NASDAQ:HIVE) announced a 4x expansion of its liquid-cooled AI data center capacity through its previously announced strategic data center partner in Canada. This grows the existing 4 megawatts (MW) in Manitoba to 16.6 MW of critical IT load across two Canadian provinces.

Copyright: andreykuzmin / 123RF Stock Photo

The expansion involves building a new colocation center in British Columbia, which will immediately add 5 MW of capacity, with room for an additional 7.6 MW. This instant capacity enables deployment of more than 2,000 next-generation, high-power-density AI-optimized GPUs in British Columbia, while at the same time, there will be a capacity for roughly 2,000 GPUs in the Manitoba facility.

On March 13, Hive Digital Technologies Ltd. (NASDAQ:HIVE) and AMC Robotics Inc. (NASDAQ:AMCI) formally announced a strategic corporate partnership. The main goal of this joint agreement is to advance artificial intelligence-driven modern robotics applications combined with highly scalable infrastructure capabilities.

Thanks to this partnership, AMC has been able to take advantage of Hive’s unique GPU AI compute infrastructure. These technological services are necessary to support the increasing development processes, rigorous testing phases, and vast deployment requirements. To accommodate future product launches, teams from both companies are actively exploring further cooperation opportunities regarding AI optimization, advanced data processing, and general infrastructure scalability.

HIVE Digital Technologies Ltd. (NASDAQ:HIVE) constructs and operates data centers that run on renewable energy sources in Bermuda and Paraguay. It offers performance computing hosting services, as well as mining and selling of virtual currencies. Additionally, it also offers infrastructure solutions to the blockchain sector.

While we acknowledge the risk and potential of HIVE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than HIVE and that has 10,000% upside potential, check out our report about this cheapest AI stock.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

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The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

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Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

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  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

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