Northern Data Group Releases Impressive Q3 2024 Earnings Report
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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 Tether CEO Paolo Ardoino praised Northern Data Group’s recent success, calling them a top AI infrastructure provider. He noted their role in providing high-quality, independent, and resilient infrastructure to businesses worldwide. Furthermore, he stated that his own company, Tether, uses Northern Data Group’s computing power to build its next-gen products. Read also: The Future of AI and Web3: Insights from RSS3’s Collaboration with NVIDIA Ardoino also highlighted some of Northern Data Group’s targets for 2024, including the delivery or deployment of 19,000 NVIDIA H100 Tensor Core GPUs, with the rollout of 2,000 NVIDIA H200 Tensor Core GPUs in late Q4. He also pointed to the company’s aim to achieve an FY 2024 revenue…
Filed under: News - @ October 18, 2024 12:25 pm