Top 9 Trending AI News Investors Probably Missed

4. Hut 8 Mining Corp. (NASDAQ:HUT)

Number of Hedge Fund Holders: 34

Hut 8 Mining Corp. (NASDAQ:HUT) provides infrastructure and solutions for the global technology ecosystem, including high-performance computing (HPC) and digital asset mining. The company also focuses on AI and cloud computing, offering services like GPU-as-a-service. Management is advancing three large-scale AI data center projects with a capacity of over 430 megawatts MW.

Analysts at H.C. Wainwright are bullish about the company’s AI prospects backed by the 300 MW utility-scale assets in West Feliciana Parish, Louisiana. With about 200MW of the project dedicated to IT loads, the analysts believe it could yield about $250 million in annual HPC/AI-related revenues. Analysts at Rosenblatt Securities share similar sentiments, having initiated coverage of the stock on March 7 with a Buy rating and a $23 price target.

Rosenblatt analysts predict that Hut 8 Mining Corp.’s (NASDAQ:HUT) various revenue streams will start to pick up speed as early as the first quarter of 2025, with high-margin High-Performance Computing (HPC) operations expected to be up and running by the year’s end.