Greenidge Generation Holdings Inc GREE shares are trading higher by 8.3% to $5.23 during Tuesday's session after the company partnered with Infinite Reality (iR) to create GreenidgeAI.
Greenidge says this new venture provides cutting-edge infrastructure for AI work, focusing on metaverse experiences exclusively for iR in the US and Canada. They plan to build a new datacenter leveraging Greenidge's expertise.
The partnership involves an equity swap agreement and warrants for both parties to purchase shares. GreenidgeAI aims to take external orders by 2024 and is gearing up with NVIDIA Corp GPUs for its AI datacenters.
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According to data from Benzinga Pro, GREE has a 52-week high of $13.90 and a 52-week low of $1.55.
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