After rising nearly 10% premarket on news that Google was taking a 5.4% equity stake in the company, Cipher Mining is now trading down about 10% after market open. It’s unclear why.
The stock is still up more than 90% for the month and more than 175% for the year.
AI computing demand is generating huge revenue streams for hyperscalers, but the market is closely watching the pace of growth, which is slowing.
Nvidia is taking a 2.9% stake in Nokia, as the Finnish mobile networking company has successfully pivoted to AI and data center technology.
In a press release announcing the deal, Nokia said:
“Nokia intends to accelerate development of Nokia’s 5G & 6G RAN software to run on NVIDIA’s architecture and will make investments to drive Nokia’s strategic goal of increasing its presence in the AI & Cloud market with data center aligned networking solutions within its Network Infrastructure business. Nokia and NVIDIA have agreed to collaborate on AI networking solutions and explore opportunities to incorporate Nokia’s data center switching and optical technologies in NVIDIA’s future AI infrastructure architecture.”
Nokia’s stock shot up over 20% on news of the deal.
“Nokia intends to accelerate development of Nokia’s 5G & 6G RAN software to run on NVIDIA’s architecture and will make investments to drive Nokia’s strategic goal of increasing its presence in the AI & Cloud market with data center aligned networking solutions within its Network Infrastructure business. Nokia and NVIDIA have agreed to collaborate on AI networking solutions and explore opportunities to incorporate Nokia’s data center switching and optical technologies in NVIDIA’s future AI infrastructure architecture.”
Nokia’s stock shot up over 20% on news of the deal.
The world’s most valuable companies keep getting more valuable. Today, Apple briefly surpassed a market cap of $4 trillion, joining the likes of Microsoft and Nvidia, though shares had turned slightly negative as of 10:13 a.m. ET. The iPhone maker, which reports quarterly earnings on Thursday, has been riding high off news of positive sales growth for its iPhone 17.
