- Amazon plans to invest up to $50 billion in expanding AI and supercomputing infrastructure for the U.S. government.
- This announcement fueled a market rebound, pushing the Nasdaq up 2.3% and the S&P 500 by 1.4% on Monday.
- Bitcoin recovered to $87,300 after dropping close to $80,000 but remains down over 7% for the week.
- Bitcoin miners shifting focus to AI infrastructure, including Cipher Mining, CleanSpark, and Hut 8, saw significant stock gains.
- Other crypto-related companies such as Coinbase, Galaxy Digital, and Bullish also reported 4% to 5% increases in their shares.
On Monday, Amazon announced plans to invest up to $50 billion to develop Artificial Intelligence and supercomputing infrastructure for U.S. government agencies. This commitment has positively influenced markets, helping to reverse a recent downturn.
Following this news, the Nasdaq increased by 2.3%, and the S&P 500 rose 1.4% by midday on the East Coast. The renewed risk appetite extended to the cryptocurrency sector. Bitcoin climbed back to $87,300 after dipping near $80,000 on Friday but remains down more than 7% compared to the previous week.
Companies involved in bitcoin mining that have adapted their business models toward AI infrastructure and high-performance computing experienced notable stock price gains. Cipher Mining led the group with an 18% rise, while CleanSpark and IREN each increased by 13%. Hut 8 shares grew by 9%.
Additional cryptocurrency-related firms also benefitted, with Coinbase, Galaxy Digital, and Bullish all posting gains between 4% and 5%. These movements highlight investor optimism linked to the expanding role of AI in computing and crypto-related sectors.
Details on Amazon’s investment plan can be found here.
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