23 hours ago
The artificial quality and precocious show computing assemblage continues to boom, with Google acceptable to get warrants to bargain astir 24 cardinal shares of Cipher Mining (CIFR), adjacent to astir 5.4% equity ownership, arsenic portion of a 10-year AI hosting woody with Fluidstack. The statement underscores Google’s deeper propulsion into AI infrastructure portion boosting Cipher’s relation successful ample standard computing services.
As portion of the deal, Google volition backstop $1.4 cardinal of Fluidstack’s lease obligations, helping enactment project-related indebtedness financing. The declaration is valued astatine astir $3 cardinal implicit the archetypal word and could emergence to $7 cardinal with 2 optional five-year extensions. Cipher is expected to present 168 megawatts of captious IT load astatine its Lake Barber tract successful Colorado City, Texas, by September 2026. Cipher volition clasp afloat ownership of the project, tapping superior markets to money further needs.
Cipher shares initially surged arsenic overmuch arsenic 20% connected the news, but were up 5% premarket astatine property time. The banal is up astir seven-fold from the April bottommost arsenic bitcoin miners person shifted their concern absorption to high-performance computing and AI infrastructure.
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