The Pentanet Ltd (ASX: 5GG) share price is having another impressive session.
In early trade, the ASX tech stock has jumped 34% to 11 cents.
This means its shares are now up 120% over the last three trading sessions.
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Why is this ASX tech stock rocketing?
Investors have been fighting to get hold of the high-speed internet and cloud gaming provider's shares since last week thanks to the release of a couple of announcements.
The second was made this morning and reveals that Pentanet has worked with NVIDIA Corp (NASDAQ: NVDA) to upgrade its Gen 3 cloud infrastructure with NVIDIA L40 GPUs, to bring Pentanet into the NVIDIA Graphics Delivery Network (GDN).
The release notes that GDN, which is available in over 130 countries, taps NVIDIA's global cloud-to-edge streaming infrastructure to deliver smooth, high-fidelity, interactive experiences.
Management believes that joining NVIDIA GDN will help Pentanet expand its compute capabilities beyond just GeForce NOW cloud gaming and enable the company to take advantage of additional industrial and commercial opportunities with its NVIDIA cloud infrastructure.
What is NVIDIA L40?
The NVIDIA L40 GPU is powered by the NVIDIA Ada Lovelace architecture and delivers revolutionary neural graphics, virtualisation, and compute capabilities for GPU-accelerated data centre workloads.
Its third-generation RT Cores and industry-leading 48 GB of GDDR6 memory deliver up to twice the real-time ray-tracing performance of the previous generation to accelerate high-fidelity creative workflows, including real-time, full-fidelity, interactive rendering, 3D design, video streaming, and virtual production.
The ASX tech share's managing director, Stephen Cornish, believes it will open a pathway for the company. He said:
Joining the NVIDIA global Graphics Delivery Network will open a pathway to new commercial opportunities beyond gaming. The L40 GPU infrastructure brings the most advanced NVIDIA RTX capabilities to help power next-generation graphics and 3D interactive experiences.
What was announced last week?
Today's announcement builds on another agreement the ASX tech share made with the global tech giant last week.
As we covered here, Pentanet executed an amendment to the GeForce NOWTM Alliance Partner Agreement with NVIDIA.
This means the agreement now formally recognises New Zealand as a serviceable territory, with a pathway to add neighbouring territories. It also allows Pentanet to continue being the exclusive distributor of GeForce NOW in Australia.
