HIVE Digital shares rise 20% after AI test with Columbia

Shares of HIVE Digital Technologies surged more than 20% on Monday, June 22, following the company's announcement of a successful research collaboration with Columbia University that validated its artificial intelligence infrastructure in Paraguay. The stock closed at approximately $5.12, marking its highest level in over seven months.

Columbia University researchers trained large language models remotely from New York using HIVE's Nvidia A40 graphics processing units located in Asunción, Paraguay, a distance exceeding 5,000 miles. The study, which spanned two months, found that the older A40 GPUs delivered performance comparable to newer Nvidia H100 systems for specific pretraining workloads on models up to 1.4 billion parameters. The research has been submitted for presentation at the NeurIPS conference, a premier machine learning event scheduled for December.

HIVE's executive chairman, Frank Holmes, said the trial proved that high-performance computing does not need to be limited by geography. CEO Aydin Kilic added that the project worked to make AI training smarter, faster, and more efficient. The company described the results as a proof of concept for intercontinental AI...