We recently published 10 Stocks Beating Wall Street’s Bets. IREN Ltd. (NASDAQ:IREN) is one of the best performers on Friday. IREN saw its share prices surge by 12.60 percent on Friday to close at $62.90 apiece as investor funds poured into stocks riding the artificial intelligence (AI) wave after getting a boost from Oracle Corp.’s massive $38 billion expansion program. The stock rallied alongside its Bitcoin mining and high-performance computing (HPC) peers, as Oracle’s announcement allayed fears of an AI bubble and strengthened optimism that infrastructure demand for next-generation AI will continue to be sustainable.
In other developments, investors loaded up shares in IREN Ltd. (NASDAQ:IREN) ahead of the release of its earnings performance for the first quarter of fiscal year 2026 after market close on Thursday, November 6, 2025. Earlier this year, IREN Ltd. (NASDAQ:IREN) signaled plans to transition slowly into AI servicing from purely Bitcoin mining to take advantage of the former’s rapid growth. Last month, IREN Ltd. (NASDAQ:IREN) successfully deployed 11,000 Nvidia Blackwell GPUs to its existing AI partners, with full operations targeted by the end of the year. Meanwhile, the remaining 12,000 GPUs are on track to be delivered by the end of the first quarter next year and generate $500 million in annualized recurring revenues (ARR) from AI alone. While we acknowledge the potential of IREN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
