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AI cloud provider faces setback as major client pulls back.

The deal is valued at $1.7 billion, The Information reported.

The company is expected to raise $4 billion at a $35 billion valuation.

The bitcoin miner held over 10,000 bitcoin at the end of last year.

The Open Agents Alliance (OAA) consists of NEAR AI, the payments and AI arms of crypto exchange Coinbase and an array of other blockchain and AI projects.

The expansion will significantly increase Core Scientific’s AI and cloud computing capacity and increase total projected revenue to $10.2 billion over 12-year contract terms.

Public bitcoin miners are rushing to build AI business lines, but there’s still room for their original mandate, says this investment bank analyst.

The final phase will allow users to deploy an AI agent to create and manage other agents.

The selloff could provide traders an attractive entry opportunity in higher-beta altcoins such as Solana’s SOL, which endured a double-digit pullback, one analyst said.

Much of the concern draws from a possible overvaluation in U.S. tech companies as DeepSeek’s latest AI model is significantly cheaper to produce and was built using open-source technology that is easy to access.