HIVE rallies after disclosing a $350 million Nvidia AI cloud contract tied to 2,016 Blackwell Ultra GPUs

HIVE Digital Technologies’ shares jumped after the company disclosed what it described as a major Nvidia AI cloud contract worth $350 million. The announcement links the spending to a specific deployment plan, including the installation of 2,016 Nvidia Blackwell Ultra GPUs at HIVE’s Bell AI Fabric facility in British Columbia.

Blackwell Ultra is Nvidia’s data center GPU platform designed for high-performance AI workloads, particularly training and inference for large-scale models. For HIVE, the value of the contract is not only the capital-equipment component, but the implied path to monetizing AI compute capacity through contracted cloud services.

According to the disclosed terms, the contract is expected to support HIVE’s efforts to reach $200 million in annual recurring revenue (ARR). ARR is a measure of predictable, repeatable revenue, commonly used by software and services businesses to communicate revenue run-rate. In the company’s framing, the $350 million customer commitment places the $200 million ARR target within reach.

The announcement also highlights the geographic and infrastructure focus of HIVE’s strategy. Bell AI Fabric is positioned as the operational site where the GPU deployment would take place, tying the contract’s delivery to HIVE’s existing facility footprint in British Columbia.

While the post described the contract’s size and the GPU count, it did not provide additional operational detail in the information available here, such as the contract duration, customer name, payment schedule, or the timing of when the full deployment would be completed and ramped to revenue.

Nvidia’s involvement matters because demand for its latest-generation AI hardware has been a central driver of the broader AI infrastructure buildout. Data center GPU supply and deployment pipelines remain a key variable in how quickly cloud and infrastructure providers can convert hardware availability into service revenue.

For investors and the market, the key question is how much of the contract converts into measurable ARR under HIVE’s revenue model, and how fast. The disclosed $200 million ARR goal suggests the company expects a meaningful portion of the customer commitment to translate into recurring service payments, rather than one-time hardware pass-through.

Still, the disclosure leaves several practical items open that typically determine near-term financial impact: the contract term, utilization assumptions, service-level scope, whether the GPUs are dedicated or shared, and whether additional phases or customers are required to sustain ARR at the targeted level. The company’s post, as represented here, did not address those points.