The artificial intelligence sector and high performance computing continues to emerge, with Google set to obtain warrants to buy nearly 24 million shares of Cipher mining (CIFR), equivalent to about 5.4% ownership of equity, as part of a 10-year AI hosting deal with fluidstack. The agreement emphasized Google’s deeper push into the AI infrastructure as Cipher’s role in large computing services strengthened.
As part of the deal, Google will backstop the $ 1.4 billion of fluidstack hire obligations, which helps support financing-related financing-related project-related debt. The contract costs about $ 3 billion in the initial term and can increase to $ 7 billion with two optional five -year extension. Cipher is expected to deliver 168 megawatts of critical IT loading to the Lake Barber site in Colorado City, Texas, by September 2026. Keep the cipher in full -time project, taping capital markets to fund additional needs.
Cipher’s sharing initially climbed 20% in the news, but preceded a 5% premarket at the time of press. The stock reached seven-folds from under April because Bitcoin miners changed their focus on business to high performance computing and AI infrastructure.
