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Analysis: Amazon's $50 billion investment in AI infrastructure boosts crypto market sentiment

On November 25, according to CoinDesk, the market (especially the crypto market) saw a significant fall last week, but on Monday this week, sentiment experienced at least a brief reversal—investors were buoyed by Amazon's (AMZN) announcement to expand artificial intelligence and supercomputing infrastructure for the U.S. government, with a maximum investment of $50 billion. This news pushed the Nasdaq up 2.3% at noon Eastern Time, and the S&P 500 rose 1.4%. Risk appetite also spread to the crypto market, with Bitcoin's price rebounding to $87,300, after briefly falling below $80,000 on Friday. Nevertheless, Bitcoin is still down over 7% week-on-week. Benefiting the most from the positive news from Amazon are those Bitcoin mining companies that have adjusted their business models to focus on AI infrastructure and high-performance computing: · Cipher Mining (CIFR) big pump 18% · CleanSpark (CLSK) and IREN (IREN) both rose 13% · Hut 8 (HUT) rose 9% Other crypto-related companies also generally rose, including CEX (COIN), Galaxy Digital (GLXY), and Bullish (BLSH), with increases ranging from 4% to 5%.

BTC1.61%
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