--- title: "U.S. stock market midday update: Cipher Digital up 13.97%, driven by short covering and expectations of AI transformation" type: "News" locale: "en" url: "https://longbridge.com/en/news/293361964.md" description: "Cipher Digital rose 13.97%; Palantir Tech fell 1.43%, with a trading volume of USD 1.136 billion; Strategy rose 5.07%, with a trading volume of USD 903 million; IREN rose 4.39%, with a trading volume of USD 854 million; SAP fell 2.00%, with a market capitalization of USD 181.1 billion" datetime: "2026-07-21T15:18:02.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293361964.md) - [en](https://longbridge.com/en/news/293361964.md) - [zh-HK](https://longbridge.com/zh-HK/news/293361964.md) --- # U.S. stock market midday update: Cipher Digital up 13.97%, driven by short covering and expectations of AI transformation **U.S. Stock Market Midday Update** Cipher Digital rose 13.97%. Based on recent key news: 1. On July 20, Cipher Digital's short interest accounted for 16.11% of the company's outstanding shares, and short covering drove the stock price up. According to Benzinga Pro data, Cipher Digital's stock price increased by 13.53% to $19.93. 2. On July 21, Cipher Digital surged 19.25% during trading, currently reported at $20.94. This unusual movement was mainly driven by short covering and second-quarter earnings expectations, as the company is in a critical phase of transitioning from cryptocurrency mining to AI data centers, and the market reacted positively to this strategic adjustment. 3. On July 21, several tech stocks in the same sector performed actively, with Soluna Holdings rising over 22% and IREN increasing nearly 20%, indicating heightened investor interest in the AI data center concept. The AI data center concept has garnered attention, with significant capital inflow. **Stocks with High Trading Volume in the Industry** Palantir Tech fell 1.43%. Based on recent news: 1. On July 17, France and Germany signed a joint statement committing to research the development of European autonomous military AI software to replace the U.S. Palantir systems. This news negatively impacted Palantir's market outlook, leading to a decline in stock price. 2. On July 15, Palantir director Alexander D. Moore sold 16,000 shares of Class A common stock at prices between $133.75 and $136.79. This insider selling raised market concerns about the company's future performance, further depressing the stock price. 3. On July 20, Palantir's AI boot camp became a strong selling point for accelerating its sales cycle. Although the stock price is not cheap, this news laid the foundation for the company's future growth potential. However, the market remains cautious about its high valuation, leading to stock price volatility. The AI software market is growing rapidly with broad prospects. Strategy rose 5.07%. Based on recent key news: 1. On July 19, Strategy increased its dollar reserves to $3 billion while holding 843,775 BTC. The company generated a net gain of $467 million through stock sales, enhancing short-term liquidity. Source: Odaily 2. On July 20, Strategy did not engage in Bitcoin trading, breaking its continuous accumulation rhythm. The company added $225 million to its dollar reserves, and the stock price rose 1.28%. Source: Odaily 3. On July 21, Strategy's cash reserves soared to $3.2 billion, with the CEO stating that the financial structure is robust, and the market's attitude towards Bitcoin has turned positive Source: Blockchain Guest Cryptocurrency Market Volatility Intensifies, Need to Focus on Risks IREN rose by 4.39%. Based on recent news, 1. On July 20, IREN announced a $2.8 billion AI cloud contract, with clients including Microsoft and NVIDIA. Driven by this news, the company raised its 2026 annual recurring revenue target to over $4 billion, with the stock price rising 14.44% intraday. 2. On July 21, IREN signed a multi-year cloud service contract with major AI developers such as NVIDIA and Microsoft, with a total contract value of $2.8 billion. The company raised its 2026 AI cloud revenue target to over $4 billion, with client prepayments covering 45% of GPU capital expenditures, and the stock price rose 19.48% intraday. 3. On July 20, IREN's stock rose about 10% in pre-market trading after the company announced it would raise its year-end AI cloud revenue target from $3.7 billion to over $4 billion, with approximately 85% of the target already covered by contracts. Demand for AI cloud services continues to grow. **Stocks Ranked Among the Top by Market Capitalization in the Industry** SAP fell by 2.00%, with increased trading volume. Based on recent key news: 1. On July 21, Barclays analyst Raimo Lenschow maintained a buy rating on SAP and set a target price of $255. Analysts generally give SAP a strong buy rating, with an average target price of $221.67, indicating market confidence in its future performance. 2. On July 20, Sequoia Strategy Composite disclosed in its second-quarter report that it had increased its investment in SAP. The strategy composite increased its holdings in SAP by reducing other investments, showing a long-term bullish outlook on SAP. 3. On July 21, Humanoid announced a partnership with SAP and other companies to begin deploying robots in the fourth quarter. This collaboration may drive SAP's business expansion in the manufacturing and logistics sectors, enhancing market expectations. 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