10 Stocks Skyrocket While Wall Street Sinks; 5 Quietly Hit New Record Highs

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1. IREN Limited (NASDAQ:IREN)

IREN Limited (NASDAQ:IREN) surged to a new record high on Friday, as investors cheered its stellar earnings performance and addition to Nvidia Corp.’s list of preferred partners.

During the session, IREN Limited (NASDAQ:IREN) soared to a new 52-week high of $29.5, or 28 percent higher than its previous close, before trimming gains to end the day just up by 14.93 percent at $26.48 apiece.

This followed the company’s announcement that it swung to a net income of $86.9 million in the full fiscal period of 2025, a reversal from the $28.9 million net loss a year earlier.

Total revenues expanded by 167.6 percent to $501 million from $187.2 million year-on-year, with Bitcoin mining contributing the largest chunk, at $484.6 million, or 163 percent higher than the $184.1 million a year ago.

Revenues from AI cloud services, on the other hand, surged by 429 percent to $16.4 million from $3.1 million in the same comparable period.

In another development, IREN Limited (NASDAQ:IREN) said it secured a Preferred Partner status from Nvidia Corp. following the procurement of 1,200 air-cooled B300 chips and 1,200 GB300s for approximately $168 million. This effectively expanded its GPU fleet to 10,900 NVIDIA GPUs.

While we acknowledge the potential of IREN to grow, 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.

READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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