15 AI News Updates That Investors Are Watching

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13. Iris Energy Limited (NASDAQ:IREN)

Number of Hedge Fund Holders: 28  

Iris Energy Limited (NASDAQ:IREN) owns and operates bitcoin mining data centers. It also provides high performance computing solutions, including Al cloud services. On November 27, Cantor Fitzgerald raised the price target on the stock to $23 from $20 and kept an Overweight rating on the shares. Based on the firm’s year-end hash rate estimates, Iris is trading on a lower enterprise-value-less-Bitcoin/hash rate multiple than the pure-play Bitcoin miners despite having legitimate AI/HPC potential, the advisory told investors. In addition, Iris is likely taking over the reins as the low-cost miner amongst our coverage by year-end, Cantor says.

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