Is Cipher Mining (CIFR) The Best Under-The-Radar AI Infrastructure Stock to Buy?

We recently published 10 Stocks Moving on Buzzing News as Analyst Issues Strong Warning About AI Valuations. Cipher Mining Inc (NASDAQ:CIFR) is one of the stocks moving on buzzing news.

Daniel Newman from the Futurum Group said in a recent program on Bloomberg that he’s invested in Cipher Mining Inc (NASDAQ:CIFR) amid rising demand on the back of the AI boom. The company operates industrial-scale data centers in the United States.

“I think everybody sees the infrastructure boom and they’re piling into these energy names like Cipher Mining Inc (NASDAQ:CIFR) and Iris Energy, they’re the names that I’ve actually gotten involved in myself because I believe all the capacity that can be built will be sold. But at the same time, Out the other end, we need ServiceNows. We need Salesforces. We need these enterprise software companies where we only have about 1% penetration right now to start driving incremental revenue. So you’ve seen them pivot revenue to AI products, but they’re not growing faster than they were before AI, and we need to see them growing faster because of AI.”

While we acknowledge the risk and potential of CIFR as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CIFR and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.