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An announcement from HIVE Digital Technologies ( (TSE:HIVE) ) is now available.
HIVE Digital Technologies, through its subsidiary BUZZ High Performance Computing, has announced a strategic collaboration with Dell Technologies to enhance its AI infrastructure. This expansion includes deploying a 63-node cluster of Dell PowerEdge servers, significantly boosting BUZZ’s AI Cloud capabilities. The initiative, part of a broader effort to position Canada as a leader in the global AI industry, is expected to increase BUZZ’s AI Cloud to over 11,000 GPUs by 2026, potentially generating an additional $120 million in annual revenue. This move underscores HIVE’s commitment to advancing AI technology and expanding its market presence.
The most recent analyst rating on (TSE:HIVE) stock is a Hold with a C$4.50 price target. To see the full list of analyst forecasts on HIVE Digital Technologies stock, see the TSE:HIVE Stock Forecast page.
Spark’s Take on TSE:HIVE Stock
According to Spark, TipRanks’ AI Analyst, TSE:HIVE is a Neutral.
The overall score is primarily impacted by financial performance challenges, including profitability and cash flow issues. Technical analysis indicates bearish momentum, and valuation metrics highlight unprofitability. These factors collectively suggest caution for potential investors.
To see Spark’s full report on TSE:HIVE stock, click here.
More about HIVE Digital Technologies
HIVE Digital Technologies Ltd., founded in 2017, is a publicly listed company that focuses on mining digital assets using green energy. It operates next-generation blockchain and AI data centers in Canada, Sweden, and Paraguay, providing services for both blockchain and high-performance computing clients. HIVE is known for its scalable and environmentally responsible solutions in the digital economy.
YTD Price Performance: 3.84%
Average Trading Volume: 2,852,866
Technical Sentiment Signal: Sell
Current Market Cap: C$1.07B
For a thorough assessment of HIVE stock, go to TipRanks’ Stock Analysis page.