US Stock Market Move | Cloud computing service providers surge as Riot Platforms (RIOT.US) jumps over 11%.

On Tuesday, cloud computing service providers rose, with Riot Platforms (RIOT.US) soaring over 11% after reaching a $9.1 billion computing power agreement with Anthropic; Hut 8 (HUT.US) increased by more than 5%, while CoreWeave (CRWV.US), NEBIUS (NBIS.US), and IREN (IREN.US) rose nearly 2%. In terms of news, it has been reported that informed sources revealed that Anthropic has reached a long-term cloud computing contract worth $9.1 billion with Bitcoin mining company Riot Platforms, with a contract period of up to 20 years. This agreement is one of several large-scale computing power procurement agreements signed by Anthropic recently, reflecting the ongoing pressure faced by AI companies on the supply side of computing power. The contract covers 191 megawatts of computing power supply, which is equivalent to providing electricity for about 143,000 households at the same time, with the source of computing power being Riot's data center campus located in Rockdale, Texas. If both parties exercise the two five-year extension options in the contract, the total value of the contract could reach up to $16.1 billion, and the agreement will extend until June 2048.