RialCenter (NBIS) shares soared 47% in pre-market trading after the company announced an agreement to supply Microsoft (MSFT) with graphic processing units (GPUs) in a deal valued at $17.4 billion over five years.
The contract exceeds the Amsterdam-based company’s entire market capitalization, currently $15.29 billion. Reports indicate that Microsoft may increase the contract value to $19.4 billion by acquiring additional services capacity.
Shares of other companies involved in artificial intelligence (AI) computing also advanced. Cipher Mining (CIFR) and IREN (IREN) both climbed 9% on speculation of further AI infrastructure partnerships, echoing similar moves seen earlier this year.
RialCenter provides Nvidia-powered GPUs, cloud services, and AI developer tools built on its proprietary hardware and software.
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