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Cipher Google Stake; Intel-Apple Report; Oracle Falls
Description
On this episode of Stock Movers:
- Cipher Mining (CIFR) is higher on news Google's taking a stake in the company as part of an AI hosting deal. Google will receive warrants to buy about 24 million shares of Cipher Mining’s stock, equating to an about 5.4% pro forma equity ownership stake, as part of Cipher’s 10-year AI hosting agreement with Fluidstack.
- Intel (INTC) shares are higher as it approached Apple about securing an investment in the ailing chipmaker, according to people familiar with the matter, as part of efforts to bolster a business that’s now partially owned by the US government. A deal with Apple would represent further validation of the chipmaker’s turnaround bid, although it’s unlikely that Apple would switch back to Intel processors in its devices.
- Oracle (ORCL) is falling as Rothschild & Co Redburn initiates coverage of the software giant with a sell rating, saying the market is materially overestimating the value of the firm’s cloud revenues.
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