HIVE Digital Technologies announced a significant five-year, $350 million AI cloud services agreement, which is expected to add $70 million in annualized revenue. This deal involves deploying NVIDIA Blackwell Ultra GPUs, signaling a strategic shift and substantial revenue growth for HIVE's BUZZ HPC division.
HIVE Digital Technologies has secured a substantial five-year, $350 million AI cloud services agreement with an investment-grade enterprise customer. This deal is a significant corporate catalyst, projected to boost HIVE's annualized revenue by $70 million through its BUZZ HPC business, increasing its total annualized revenue to $180 million. The agreement involves the deployment of 2,016 NVIDIA Blackwell Ultra GPUs, highlighting HIVE's strategic expansion into high-performance computing and AI infrastructure. While the stock initially traded lower in premarket, likely due to broader market sentiment, this long-term contract provides a strong fundamental tailwind for HIVE, positioning it as a key player in the growing AI cloud services market. For traders, this represents a long-term opportunity for HIVE, though short-term price action may be influenced by overall market conditions and technical resistance levels.