Nebius and Microsoft's $17.4 billion deal drive AI mining stocks to rise in pre-market trading

Shares of Nebius Group (NBIS) soared 47% in pre-market trading after the company signed a $17.4 billion five-year GPU supply agreement with Microsoft, surpassing its $15.29 billion market cap. If the agreement contains more services, its value could expand to $19.4 billion. Artificial intelligence infrastructure companies Cipher Mining (CIFR) and IREN (IREN) rose 9% by cooperation expectations. Nebius provides artificial intelligence tools based on Nvidia GPUs, cloud services and proprietary technologies.