Northern Data Group’s Q3 Revenue Soars 235% on AI Computing Demand

Market Tether (USDT)Artificial Intelligence (AI)

Oct, 18, 2024

< 1 min read

by Ikemefula Aruogu

for CoinEdition

Northern Data Group's Q3 Revenue Soars 235% on AI Computing Demand

Northern Data Group’s Q3 2024 revenue surged by 235% year-on-year, reaching EUR 59 million.
Tether CEO Paolo Ardoino revealed that Tether relies on their computing power.
The company aims to deploy 19,000 NVIDIA H100 GPUs in 2024 and achieve revenue of EUR 200-240 million.

Northern Data Group, a provider of AI and high-performance computing (HPC) solutions, announced stellar Q3 2024 financial results, with revenue surging to EUR 59 million, a 235% jump year-on-year.

This impressive growth stems from the strong demand for AI-driven computing power, which has fueled Northern Data Group’s cloud and data center business. In Q3, this segment generated EUR 48 million, nearly ten times higher than the same period last year and a 296% increase from the previous quarter.

A strong set of results for our Q3 2024 earnings, with revenue of EUR 59 million, up 235% year-on-year. Combined Cloud and Data Centers Q3 2024 revenue was EUR 48 million, up 296% from Q2, and more than ten times higher than Q3 2023. Read the report – https://t.co/391BCQAZZ7
— Northern Data Group (@NorthernDataGrp) October 17, 2024

Tether CEO Praises Northern Data Group’s AI Infrastructure

T…

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