HIVE stock soars on AI announcement but gains may be short-lived

HIVE Digital (HIVE) ripped higher on Monday after announcing a plan to set up a C$3.5 billion ($2.55 billion) artificial intelligence (AI) gigafactory in Toronto. This mega-facility will draw roughly 320 megawatts of utility power – and is designed to host more than 100,000 specialized, high-performance GPUs upon completion.