Crypto Miners Surge on US$17.4B Microsoft–Nebius AI Chip Deal
Mohammedia – In a significant development for both the AI and cryptocurrency sectors, Microsoft has entered into a five-year agreement with Nebius, a Netherlands-based company, to supply GPU infrastructure for its artificial intelligence operations.
Valued at US$17.4 billion, with the potential to expand to US$19.4 billion, the deal underscores the escalating demand for high-performance computing resources to support generative AI technologies. Nebius will provide dedicated GPU capacity from its new data center in Vineland, New Jersey, slated to begin operations in 2025.
The announcement of this partnership has had a profound impact on the cryptocurrency mining industry. Shares of mining companies surged, reflecting…
