Grok’s Latest Stock Portfolio in 2026: Elon Musk’s AI Chatbot’s Top 10 Stock Picks

7. IREN Limited (NASDAQ:IREN)

Number of Hedge Funds: 46

IREN Limited (NASDAQ:IREN) operates large data centers and makes money by renting out computing power (mainly GPUs) to AI companies and by mining Bitcoin using its own computers and cheap renewable electricity.

Grok says IREN Limited’s (NASDAQ:IREN) core bull thesis revolves around the idea that it is no longer just a Bitcoin miner, but a large-scale AI infrastructure provider backed by massive secured demand and cheap power capacity.

IREN Limited (NASDAQ:IREN) has about 4.5 gigawatts (GW) of renewable energy capacity, which is the backbone needed to run power-hungry AI data centers. The company has a $9.7 billion Microsoft AI cloud contract, which is being framed as effectively covering about 95% of its GPU-related capital expenditure. The implication is that Microsoft (as the demand anchor) helps de-risk the buildout.