Blockchain technology company Bitdeer Technologies Group (NASDAQ:BTDR), co-founded by Jihan Wu, has announced a strategic partnership with NVIDIA Corporation (NASDAQ:NVDA) to launch Bitdeer AI Cloud. This venture marks a significant step for Bitdeer as a Preferred member of the NVIDIA Partner Network, combining its high-volume computing expertise with NVIDIA's advanced AI technologies.
The collaboration aims to propel generative AI advancements by utilizing NVIDIA's DGX SuperPOD systems, which include the DGX H100 processors. This technology is expected to be the foundation of Singapore's premier AI cloud service, projected to go live in Q1 2024—a move aligning with the growing Platform-as-a-Service (PaaS) market.
Bitdeer's CEO, Matt Linghui Kong, has expressed the company's ambition to lead Asia in the field of large language models and next-generation AI technologies. Tony Paikeday from NVIDIA also commented on the partnership, stating that it will provide businesses with powerful tools for generative model innovation.
The company, which has transitioned from its Bitcoin mining roots, now manages six data centers around the world, focusing on sustainability and energy efficiency. These centers are crucial for delivering reliable, high-performance computing power for demanding AI tasks.
As Bitdeer moves towards offering a broad range of cloud services, including Infrastructure as a Service (IaaS), Platform-as-a-Service (PaaS), and Software as a Service (SaaS), it demonstrates adaptability and foresight in the rapidly evolving tech landscape. The company's competitive pricing model starts at $6 per hour for access to NVIDIA H100 GPUs, indicating its readiness to cater to various industries requiring robust computational power.
For those interested in gaining deeper insights into this development or seeking investment guidance, Benzinga Professional offers a comprehensive platform with a free two-week trial period available for new users.
InvestingPro Insights
As Bitdeer Technologies Group forges a strategic partnership with NVIDIA Corporation, it's important to consider the underlying strength of NVIDIA and its market position. According to recent data from InvestingPro, NVIDIA boasts a market capitalization of $1170.0 billion, reflecting its substantial presence in the industry. The company's revenue growth has been impressive, with an increase of 57.07% over the last twelve months as of Q3 2024, and an even more remarkable quarterly revenue growth of 205.51% in Q3 2024.
InvestingPro Tips reveal that NVIDIA not only has a perfect Piotroski Score of 9, indicating top-notch financial health, but it also yields a high return on invested capital, suggesting efficient use of investment funds. Moreover, with a PEG Ratio of 0.28 as of Q3 2024, NVIDIA is trading at a low price relative to its earnings growth, which could be an attractive point for investors seeking growth at a reasonable price.
For those considering an investment in NVIDIA, or simply wanting to understand the financial backdrop of Bitdeer's partner, InvestingPro offers additional insights, with 27 more InvestingPro Tips available. To delve deeper into NVIDIA's financial metrics and for comprehensive investment guidance, consider a subscription to InvestingPro, now on a special Cyber Monday sale with discounts of up to 55%. Plus, use coupon code sfy23 to get an additional 10% off a 2-year InvestingPro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.