Forget Nvidia: This Infrastructure Upstart Is The Real Backdoor AI Winner
Yahoo Finance ·
Nvidia ( NVDA 1.39% ) , the world's largest producer of data center GPUs, is the linchpin of the booming AI market. Most of the world's top AI companies use its GPUs to train their large language models (LLMs), and Nvidia locks in those clients with its proprietary software. Nvidia still has a bright future, but it's already the world's largest company with a market cap of $4.7 trillion. So if you're looking for bigger gains, it might be smarter to seek out smaller, faster-growing AI companies that are still much smaller than Nvidia. One of those stocks is IREN ( IREN 10.41% ) , which has rallied nearly 150% over the past 12 months and is worth about $14 billion. Let's see why this Australian AI infrastructure stock might outperform Nvidia and the other AI market leaders over the next 12 months. IREN was originally a Bitcoin ( BTC +0.69% ) miner called Iris Energy, which only used renewable energy in its mining operations. But in 2024, it rebranded itself as IREN and expanded into the AI infrastructure market by buying Nvidia's H100 and H200 GPUs.
DYAX Investor Sentiment
Bullish (Long) 44% · Bearish (Short) 56%
484 participants
Related News
- Is Solana the Best Ethereum Alternative Right Now?
- All Eyes Are on Social Security's Financial Woes. But Medicare Is in Trouble, Too.
- Travelers Is Quietly Trading Near a Record High While Tech Grabs the Headlines. Can the Rally Last?
- Catalyst Watch: SpaceX initiations, Sun Valley Conference, PepsiCo earnings
- Better Artificial Intelligence (AI) Stock: Alphabet vs. Micron Technology (the Winner May Surprise You)
- How Safe Is AGNC's 13% Dividend Right Now?