AI and high-performance computing (HPC) stocks continued their upward momentum Thursday, led by IREN (IREN), Bitfarms (BITF), and Hive Digital (HIVE) as investor interest in GPUs and cloud AI services intensifies.
IREN gained after announcing multi-year AI cloud service agreements with leading AI companies for NVIDIA Blackwell GPU deployments. The company is on track to exceed $500 million in annualized run-rate revenue (ARR) by the end of Q1 2026, supported by 23,000 GPUs currently in operation or on order.
Of those, contracts covering 11,000 GPUs are expected to generate around $225 million ARR by the end of 2025. With typical two-year contract terms and fast revenue payback periods, IREN is scaling across its British Columbia campuses and Horizon 1 & 2 data centers in Texas, capable of hosting over 100,000 GPUs with 2,910 MW of secured power capacity.
Co-founder Daniel Roberts said, “Our ability to quickly transition from ASICs to GPUs and scale Horizon 1 & 2 positions IREN uniquely to meet the accelerating demand for AI compute.”
Sector Rally Continues
The AI and HPC rally carried into early U.S. trading, with Bitfarms climbing 12% after a 15% gain on Monday, and Hive Digital adding 10% following a 25% surge in the previous session, highlighting robust investor enthusiasm for GPU-powered mining and cloud infrastructure.
