markets

Sage D. Young3/25/26

Cipher leaps on signing a 15-year data center campus lease with hyperscaler

Shares of Cipher Digital increased more than 11% on Wednesday morning amid news that the firm signed a new data center lease and secured a $200 million revolving credit facility.

This is its third data center campus lease, following two deals in November. This 15-year deal is with an “investment-grade Hyperscale tenant” that includes plans to develop a new high-performance computing (HPC) data center at one of its existing sites, according to the press release.

Cipher Digital also attained a $200 million revolving credit facility with an additional accordion option of up to $50 million, of which the total proceeds will be used to boost liquidity, support working capital, and fund growth initiatives.

“This transaction marks Cipher’s first syndicated revolving credit facility and represents a major step in the evolution of our capital structure,” CFO Greg Mumford said in a statement. “We believe this facility highlights the continued strength and maturation of our business, as well as the growing confidence in our long-term strategy from premier financial institutions.”

Last month, the firm rebranded from “Cipher Mining” to “Cipher Digital” to reflect the change of its focus from bitcoin mining to HPC data center development.

CIFR shares rise on new Hyperscaler agreement

CIFR shares rise on new Hyperscaler agreement

Cipher Digital also attained a $200 million revolving credit facility with an additional accordion option of up to $50 million, of which the total proceeds will be used to boost liquidity, support working capital, and fund growth initiatives.

“This transaction marks Cipher’s first syndicated revolving credit facility and represents a major step in the evolution of our capital structure,” CFO Greg Mumford said in a statement. “We believe this facility highlights the continued strength and maturation of our business, as well as the growing confidence in our long-term strategy from premier financial institutions.”

Last month, the firm rebranded from “Cipher Mining” to “Cipher Digital” to reflect the change of its focus from bitcoin mining to HPC data center development.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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