9 AI News and Ratings to Keep on Your Radar

4. IREN Limited (NASDAQ:IREN)

Number of Hedge Fund Holders: 44

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

On March 17, IREN Limited (NASDAQ:IREN) announced a 600MW grid connection agreement for Sweetwater 2, further advancing its 2GW data center hub in West Texas. Co-CEO Daniel Roberts stated that this expansion strengthens IREN’s position with fully contracted capacity, reducing development risks.

West Texas was selected for its renewable energy, strong fiber connectivity, and efficient cooling systems. Sweetwater 2, covering over 500 acres, is expected to be energized by late 2027, with $4.1 million in non-refundable connection costs and $26.9 million in refundable deposits. IREN is collaborating with AI and cloud computing firms, with Sweetwater 1 scheduled to go live in April 2026 and Sweetwater 2 in late 2027.