Overview
- HIVE’s BUZZ HPC announced the Toronto AI “gigafactory” on Monday, and the stock jumped roughly 24% to 40% during the session.
- The plan calls for a 320 megawatt campus costing about C$3.5 billion that is designed to host more than 100,000 GPUs, with first operations targeted for the second half of 2027.
- BUZZ bought about 25 acres across two adjacent parcels for roughly C$58 million tied to a 320 MW power allocation, and the company projects more than 800 construction jobs plus hundreds of permanent roles.
- Executives frame the campus as sovereign AI infrastructure on Canadian soil using Ontario’s low‑carbon grid and closed‑loop cooling systems that avoid water use.
- Delivery now depends on securing financing, pre‑leasing anchor customers, GPU supply, permits, and grid interconnection, which will determine whether the late‑2027 target holds.