Cipher Mining pares early losses after Q4 results disappoint

Cipher Mining cut its premarket losses on Tuesday after missing revenue and earnings estimates for the last quarter of 2025. The stock had fallen as much as 4.7% ahead of the open before paring its losses in morning trading.

For Q4, the company reported:

Revenue of $60 million (estimate: $84.4 million).
Adjusted earnings per share of -$0.14 (estimate: -$0.06).

After the close on Monday, crypto miner Canaan announced that it had purchased Cipher Mining’s stake in a mining joint venture for $39.75 million, deepening Cipher’s pivot away from bitcoin mining toward data centers. Indeed, CIFR acknowledged in the Q4 and year-end report that its “identity has evolved to focus on enabling next-generation compute at industrial scale.”

The Canaan acquisition news came on the heels of former bitcoin miner Bitdeer announcing that it had sold all of its bitcoin holdings to fund its pivot to AI.

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Novo Nordisk to slash GLP-1 list prices starting in 2027

Novo said the move will expand access for patients, “specifically those whose out-of-pocket costs are linked to list price, such as individuals with high-deductible health plans or co-insurance benefit designs.”

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Top AI energy trade Constellation Energy beats earnings expectations

The company declined to give full-year 2026 guidance until a call slated for the end of March.

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AMD soars after striking AI chip deal with Meta valued at over $100 billion

Advanced Micro Devices is spiking in premarket trading on Tuesday after the company booked another major customer for its GPUs.

The chip designer struck a deal with Meta to deploy 6 gigawatts’ worth of AI infrastructure (that is, multiple generations of AMD AI chips). Per The Wall Street Journal, AMD has said that each gigawatt is equivalent to “several tens of billions of dollars” of sales, making the value of this pact in excess of $100 billion.

In exchange, Meta will receive warrants to buy as many as 160 million shares — roughly 10% of AMD’s current total shares outstanding — for a penny each as certain milestones are hit pertaining to the amount of gigawatts shipped, AMD’s share price, and “Meta achieving key technical and commercial milestones.” For all the tranches to vest, AMD stock would need to trade at $600.

The GPUs-for-warrants framework is similar to the deal that AMD brokered with OpenAI last year.

Meta CEO Mark Zuckerberg has a voracious appetite for AI compute. Just last week, Meta unveiled a “multi-year, multi-generational strategic partnership” with Nvidia that “will enable the large-scale deployment of NVIDIA CPUs and millions of NVIDIA Blackwell and Rubin GPUs, as well as the integration of NVIDIA Spectrum-X Ethernet switches for Meta’s Facebook Open Switching System platform.”

Nvidia, the leader in AI GPUs, slumped as news of this pact hit the wires.

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IBM had its worst trading day since the dot-com bubble burst

It’s Blue Monday... or it certainly was for IBM yesterday, as the stock suffered its biggest one-day drop since 2000, when the technology company’s shares tanked amid the wider bursting of the dot-com bubble.

Big Blue wound up in the big red, shedding more than 13% by yesterday’s close, fueled by an Anthropic blog post detailing Claude Code’s ability to automate modernization of Common Business-Oriented Language (COBOL) code.

COBOL’s ubiquity and antiquity, as the language will celebrate its 67th birthday in September, makes it a pretty big deal — and a pretty big pain — not least for IBM, which is behind most of the mainframe computers that run the language, per Bloomberg.

IBM hit back with its own blog post yesterday outlining that the value its core mainframe computer business delivers isn’t dependent on a single language like COBOL or Java, but on the platform itself. The company also highlighted Watsonx, its own AI tool suite, which has COBOL modernization capabilities.

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