Hut 8 stock is a winner in a new deal between Anthropic and Nvidia-backed Lambda

Hut 8 stock is a winner in a new deal between Anthropic and Nvidia-backed Lambda Brian Sozzi · Executive Editor Tue, September 1, 2026 at 2:25 PM GMT+2 2 min read HUT NVDA Big dealmaking continues at a rapid clip for AI infrastructure play Hut 8 ( HUT ). Hut 8 is developing the data center in Nueces County, Texas, that will be leased by Nvidia ( NVDA ) as part of a new $35 billion cloud-computing deal between Anthropic ( ANTH. PVT ) and Nvidia-backed Lambda, according to a new report from the WSJ.

Hut 8 shares rose as much as 4% in premarket trading on Tuesday. "We have many projects that we are at late stage on," Hut 8 CEO Asher Genoot said on Yahoo Finance's Opening Bid in late August (video above). "We have early-stage [projects] across the whole pipeline.

We have 11 that we've disclosed publicly. That doesn't include any behind-the-meter opportunities that we're working on. That doesn't include any M&A opportunities.

So we have a ton of projects we're working on. " Hut 8 has a remarkable transformation story, evolving from a bitcoin miner to one of the most important AI data center operators in North America. Its deal flow — now including one with Nvidia — is starting to flesh this out.

The first blockbuster deal came in December 2025 when Hut 8 signed a 15-year, $7 billion lease with cloud infrastructure provider Fluidstack for 245 megawatts of capacity at its River Bend campus in Louisiana. Google ( GOOG ) is acting as a financial backstop for the entire term. Then in May, Hut 8 scored an even bigger deal — a 15-year, $9.

8 billion lease at its Beacon Point campus in Nueces County, Texas, covering 352 megawatts of AI factory capacity. The deal sports three five-year renewal options that could push the total contract value to $25. 1 billion.

"We regard HUT's execution on its pipeline, including its recent announcement of a new contract for Phase II of its Beacon Point AI data center project, as validation of the 'Power First' thesis that CEO Asher Genoot has articulated, in which the company's core competency is the repeatable conversion of scarce power into long-duration, contracted, financeable infrastructure," Benchmark analyst Mark Palmer wrote in a note. Palmer rated Hut 8 shares a Buy with a $195 price target, which assumes about 143% upside from current levels. Of the 18 sell-side analysts who cover Hut 8, all rate the stock a Buy, according to Yahoo Finance AlphaSpace analysis.

Brian Sozzi is Yahoo Finance's Executive Editor, host of the ' Power Players With Brian Sozzi' podcast and a member of Yahoo Finance's editorial leadership team. Follow Sozzi on X @BrianSozzi , Instagram , and LinkedIn . Tips on stories?

Email brian. sozzi@yahoofinance. com.