Cipher Digital Stock Surges on Positive News for Texas Data Center Projects
On Wednesday, Cipher Digital (NASDAQ: CIFR) stock rose sharply by 13.9% as of 10:35 a.m. ET, outperforming the S&P 500 and Nasdaq Composite which were up just 0.2% and 0.6%, respectively. The surge follows recent sell-offs in AI stocks due to regulatory concerns but is now seeing some recovery momentum. Cipher Digital's stock also received a boost from news related to its Texas data center projects, where the Electric Reliability Council of Texas (ERCOT) announced grid capacity up to 3.2 gigawatts for the company’s facilities. This update supports scaling in Cipher Digital’s AI compute business and has led investors to bid up the stock today.
Topics: AI data centers market reaction regulation