Breaking News
Get 40% Off 0
Is NVDA a 🟢 buy or 🔴 sell? Unlock Now

Bitdeer and NVIDIA partner to launch AI cloud services in Singapore

Published Nov 29, 2023 06:26
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters
 
NVDA
+0.36%
Add to/Remove from a Portfolio
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

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.

Bitdeer and NVIDIA partner to launch AI cloud services in Singapore
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email