Cryptocurrency and AI Stocks Surge Following Major GPU Supply Deal

According to PANews, cryptocurrency mining and artificial intelligence-related stocks experienced a significant surge on Tuesday, driven by a $17.4 billion GPU supply agreement between Nebius Group and Microsoft. CoinShares Bitcoin Mining ETF (WGMI) saw its stock price rise by 12%, reaching a record high of $33.13. Since the beginning of the year, the ETF has increased by 44%, surpassing its initial listing price of approximately $30. The ETF's top two holdings have shown remarkable performance year-to-date: IREN's stock price has soared by 188%, while Cipher Mining (CIFR) has seen a 90% increase. WGMI manages total assets worth $175.7 million, with an expense ratio of 0.75%. The AI boom has also boosted Oracle's (ORCL) stock, which jumped 30% in pre-market trading on Wednesday.