Crypto Miners Surge on US$17.4B Microsoft–Nebius AI Chip Deal
- Nebius has secured a massive US$17.4 billion (AU$26.36 billion) deal to supply Microsoft with GPU technology for its AI infrastructure.
- Shares of crypto mining companies surged, with Bitfarms climbing 22% and Cipher Mining rising 20%, leading the sector’s gains.
- Nebius stock soared nearly 50%, reaching an intraday high of US$98.68 (AU$149.44) as investors reacted to the landmark agreement.
Shares of cryptocurrency mining firms rose sharply on Tuesday following news of a major deal between Nebius Group and Microsoft, valued at US$17.4 billion (AU$26.36 billion).
The agreement, running through 2031, will see the Netherlands-based Nebius provide dedicated GPU capacity to Microsoft’s artificial…
