11 Trending AI Stocks on Latest News and Ratings

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7. IREN Limited (NASDAQ:IREN)

Number of Hedge Fund Holders: 28

IREN Limited (NASDAQ:IREN) operates bitcoin mining data centers and offers high-performance computing solutions, including AI cloud services.

B. Riley analyst Lucas Pipes has raised the price target for IREN (NASDAQ:IREN) from $15 to $16, maintaining a Buy rating on the stock. He noted that since Election Day, Bitcoin (BTC) has surged significantly, reaching an all-time high above $107k on December 17. During this period, the global hash rate increased by 11%, briefly peaking at around 890 EH/s.  Additionally, the firm noted that IREN recently revealed its 1.4 GW Sweetwater data center project in West Texas and is exploring various opportunities at the site, including Bitcoin mining and AI-related ventures, such as co-location services.

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