Why Is HUT Stock Rising Nearly 5% In Overnight Trading?

• Hut will develop the data center in Nueces County, Texas and has already signed an agreement with Nvidia a few weeks ago to secure the capacity, the report said.
• Lambda will use Hut’s data center to plug in chips bought from Nvidia.
• The fresh deal is another feather in the cap for Hut 8 as it is already developing data centers for Anthropic to use Google’s tensor processing units.

Shares of Hut 8 Corp. (HUT) jumped nearly 5% in the overnight session late Monday after reports emerged that the company is set to develop a data center site on a deal between Anthropic and Nvidia Corp. (NVDA). 

A report from The Wall Street Journal late Monday, citing people familiar with the deal, revealed that Anthropic and Nvidia have signed a cloud-computing deal worth $35 billion, backed by cloud provider Lambda. Nvidia will hold the lease on the data center, the report said. 

Deal Contours 

Hut will develop the data center in Nueces County, Texas, and has already signed an agreement with Nvidia a few weeks ago to secure the capacity, the report said, citing people familiar with the matter. 

The deal highlights Nvidia’s increasing role in helping non-investment-grade companies like Anthropic access its computing resources. 

“These deals are simply financial engineering to allow $NVDA a bigger share of the GPU leasing economics, using other companies as cut-outs. Not a good development for the neoclouds. $NVDA holds all the cards here,” Jim Chanos, the founder of Kynikos Associates, said in a post on X. 

Meanwhile, Lambda will use Hut’s data center to plug in chips bought from Nvidia, although the report said it is unclear how much the former will pay Nvidia to access the data center.

However, technology critic and EZ Primary Research CEO Ed Zitron criticized the deal a post on X, saying, “Lambda (NVDA investment, $1.4bn contract) signing a deal with NVIDIA, so Anthropic (who lacks the credit to sign I assume?) can maybe rent back capacity that is leased in NVIDIA's name, built by Hut8, who is also building capacity with Fluidstack. Every bad sign possible lol.” 

Hut’s Deals Expand

Earlier in July, Hut 8 said that a “high-investment-grade company” had signed 15-year leases for its entire 700-megawatt Texas campus without naming the tenant. The company said that the  $20 billion facility would be designed to support Nvidia chips. 

The fresh deal is another feather in the cap for Hut 8, as it is already developing data centers for Anthropic to use Alphabet Inc. (GOOG, GOOGL) Google’s tensor processing units. Meanwhile, Google has also backed the deal with financial guarantees to support the projects and help Hut 8 raise debt. 

In Dec. 2025, Hut 8 signed a 15-year, $7 billion lease with Fluidstack to develop 245 MW of AI data-center capacity at its River Bend campus in Louisiana, with Google providing a revenue backstop. The infrastructure will support Anthropic’s AI workloads, with the first data halls expected to come online in Q2 2027.

HUT Stock: What’s Retail Saying?

On Stocktwits, retail sentiment around HUT stock improved from ‘bearish’ to ‘neutral’ over 24 hours as message volumes grew more than 212% in the same time. 

One user said, “$HUT hut playing with the big boys Bottom hopefully in.”

Another user said, “$HUT this is such a good long term bet…”

HUT stock is up more than 53% this year. Meanwhile, NVDA stock has gained nearly 17% in the same time. 

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