IREN, Riot, Cipher Stocks Climb After Nvidia’s Q3 Report – Cipher Mining (NASDAQ:CIFR)

Shares of AI data center and high-performance computing stocks are climbing after Wednesday’s closing bell following a blockbuster third-quarter earnings report from NVIDIA Corp. (NASDAQ:NVDA).  

Data Center, HPC Plays Climb 

AI data center and HPC provider stocks have effectively become a “leveraged beta” trade on Nvidia’s hardware dominance because it is faster for a hyperscaler to lease a former Bitcoin miner’s existing power/facility than to build a new power plant from scratch. 

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The biggest bottleneck for AI right now is not just chips — it is electricity. Nvidia’s Blackwell chips require massive amounts of power and cooling

Stocks such as Cipher Mining, Inc. (NASDAQ:CIFR), IREN Ltd. (NASDAQ:IREN) and Applied Digital Corp. (NASDAQ:APLD) took off after Nvidia’s strong quarterly results and forward guidance reassured investors that the AI trade is still going strong. 

Other HPC/ data center stocks also climbed, including: 

• TeraWulf, Inc. (NASDAQ:WULF) 
• WhiteFiber, Inc. (NASDAQ:WYFI) 
• Riot Platforms, Inc. (NASDAQ:RIOT)
• Nebius Group N.V. (NASDAQ:NBIS)

Wall Street needed reassurance following a rough patch for tech stocks heading into Nvidia’s earnings report and the AI chipmaker delivered. 

“AI is going everywhere, doing everything, all at once,” Nvidia CEO Jensen Huang said in the company’s earnings release. 

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