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Crypto

Ethereum treasury firms' losses swell; BitMine posts $6.95 billion loss

Companies holding Ethereum are recording heavy losses as the cryptocurrency market continues to fall, Cointelegraph reported on Sunday. BitMine Immersion Technologies has an unrealised loss of $6.95 billion, driven by a drop in ether from its average purchase price of $3,883 to $2,240. SharpLink Gaming has a $1.09 billion loss. Lower market net asset value metrics are making fundraising more difficult and limiting further crypto purchases.

AI & Enterprise

Oracle shares fall 3 percent after announcing plan to raise up to $50 billion

Oracle's shares fell 3 percent after it announced it would raise up to $50 billion to expand AI infrastructure, CNBC reported on Sunday. CNBC said investor concerns increased as the company unveiled a large financing plan to expand data centres and attract AI companies, while the possibility of job cuts was also raised. Oracle is reviewing layoffs of 20,000 to 30,000 staff, an analyst said.

AI & Enterprise

Nvidia shares fall 2 percent amid uncertainty over OpenAI investment plan

Nvidia's shares fell 2 percent as uncertainty increased over a plan to invest $100 billion in OpenAI, CNBC reported on Feb. 2. Nvidia announced an agreement to provide OpenAI with at least 10 gigawatts of computing power and invest $100 billion, but internal uncertainty has grown. The Wall Street Journal reported CEO Jensen Huang told industry contacts late last year the investment was not binding or final.