Billionaire Rob Citrone’s 10 Small-Cap Stock Picks with Huge Upside Potential

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1. IREN Ltd. (NASDAQ:IREN)

Discovery Capital Management’s Stake: $11.54 million

Number of Hedge Fund Holders: 44

Market Capitalization as of May 8: $1.56 billion

Average Upside Potential as of May 8: 187.15%

IREN Ltd. (NASDAQ:IREN) owns and operates bitcoin mining data centers. It also provides high-performance computing solutions, such as AI cloud services. The company was formerly known as Iris Energy Limited and changed its name to IREN Limited in November 2024.

Earlier in February, B. Riley analyst Nick Giles raised the price target on IREN to $21 from $19, while keeping a Buy rating on the shares following its FQ2 2025 report. This sentiment was backed by the company’s Horizon 1 announcement for AI/HPC. This is a 75 megawatt liquid-cooled AI data center, which allows the company to capitalize on the shortage of such facilities. IREN Ltd. (NASDAQ:IREN) made $119.6 million in FQ2 revenue, which was up 181% year-over-year.

Later in March, the company also signed a 600MW grid connection agreement with AEP Texas Inc. for its West Texas Sweetwater 2 project. This would allow IREN to advance its 2GW Sweetwater data center hub. The project is expected to be energized by late 2027. During this FQ2, IREN also mined 1,347 Bitcoins, which was an increase of 813 Bitcoins sequentially.

While we acknowledge the growth potential of IREN Ltd. (NASDAQ:IREN), our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than IREN but that trades at less than 5 times its earnings, 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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