10 Best Performing ASX Stocks in 2025

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1. IREN Limited (NASDAQ:IREN)

Year-To-Date Returns: 371.38%

Number of Hedge Fund Holders: 39

IREN Limited (NASDAQ:IREN) is one of the best performing ASX stocks in 2025. On September 22, the company said it had doubled its GPU fleet to 23,000 units after acquiring 12,400 more GPUs for about $674 million. The expanded fleet now includes a mix of NVIDIA H100s & H200s (1,900), NVIDIA B200s & B300s (19,100), NVIDIA GB300s (1,200), and AMD MI350Xs (1,100).

IREN raised its annualized run-rate revenue (ARR) target for its AI Cloud segment to more than $500 million by the end of Q1 2026. The company previously targeted 10,900 GPUs by year-end, but strong market demand led to a larger fleet and a higher ARR goal. It now plans to support up to 60,000 GPUs, especially at its British Columbia sites.

The management expects that the GPU investments will bolster long-term revenue and improve operational efficiency. It is particularly banking on the Blackwell architecture, which offers improvements in AI performance and energy efficiency. Deliveries and deployment will occur at the Prince George campus and other facilities in British Columbia.

IREN Limited (NASDAQ:IREN) is a sustainable Bitcoin mining and AI infrastructure company. It develops and operates large-scale data centers powered by renewable energy, with major facilities in Texas and British Columbia. Its main products are mined bitcoin and high-performance AI cloud services.

While we acknowledge the potential of IREN Limited (NASDAQ: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 AI stock that is more promising than IREN and that has 100x upside potential, check out our report about this cheapest AI stock.

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