Shares in AI, high-performance computing (HPC), and Bitcoin mining companies surged after OpenAI announced a multi-billion-dollar chip agreement with Advanced Micro Devices (AMD).
The Financial Times reports OpenAI could also acquire up to a 10% stake in AMD over time. AMD shares jumped roughly 30% to around $225. The deal covers chips providing a total computing power of 6 gigawatts (GW), with OpenAI estimating the cost of each GW, including chips and infrastructure, at $50 billion.
AI and HPC-focused Bitcoin miners also rallied: Bitfarms (BITF) gained 8%, Iris Energy (IREN) rose 12% to an all-time high near $56, Hive Digital (HIVE) advanced 12%, Cipher Mining (CIFR) climbed 7%, and CleanSpark (CLSK) and TerraWulf (WULF) each rose 5%.
Galaxy Digital (GLXY) rose 5%, benefiting from its Helios campus conversion into a large-scale AI/HPC data center and $1.4 billion in project financing. Its GalaxyOne platform, offering a 4% yield on FDIC-insured cash and auto-investment into crypto and U.S. equities, also supported gains. GLXY shares are up 116% year-to-date.
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