A major deal between Microsoft and Nebius, a leading provider of AI GPU infrastructure, has been announced. The agreement is valued at $17.4 billion and will provide 300 MW of data center capacity for AI workloads. This marks a significant investment in the growing AI landscape by both companies and signifies Nebius’s crucial role as an infrastructure provider. The deal sparked a rally in the stocks of companies like Cipher Mining and IREN, demonstrating market optimism regarding further investments in the AI mining sector. This move by Microsoft aligns with their efforts to address the surging demand for AI computing resources, which has led to ongoing capacity shortages.