AI Miners Rebound as Record $38B Oracle Data Center Deal Boosts Sector
AI and HPC mining stocks surged pre-market following news of a record $38 billion Oracle-linked data center financing deal.Summary
Artificial Intelligence (AI) and High Performance Computer (HPC) mining stocks, including Cipher Mining, IREN, and Bitfarms, experienced a sharp pre-market rally after the announcement of the largest AI infrastructure financing on record. This financing involves banks preparing a $38 billion debt sale to fund two major data centers being developed by Vantage Data Centers for Oracle Corp's partnership with OpenAI under the Stargate initiative—one in Texas ($23.25 billion) and one in Wisconsin ($14.75 billion). The loans are set to mature in four years with extension options. This massive investment underscores Oracle's significant ambitions in cloud computing and artificial intelligence, aligning with its broader plan for up to $500 billion in AI infrastructure investment.
(Source：CoinDesk)