Jim Cramer on IREN: “It’s Growing Like a Weed”

IREN Limited (NASDAQ:IREN) was among Jim Cramer’s stock calls on Mad Money, as he highlighted the AI opportunities in neoclouds. Cramer mentioned the stock and its peers during the episode, as he remarked:

How about the small operators? You hear their names all the time. These are more like hybrids between neoclouds and specialized real estate co-location services. This bucket includes former cryptocurrency miners and raw power companies. They’re not always selling a complete cloud services suite. This group can still generate strong returns, and some are strong takeover targets too… Here I want you to think IREN, Hut 8, Cipher Digital, TeraWulf… Bitdeer Technologies, Core Scientific.

These companies are more like actual landlords of compute than full-stack AI clouds. Now, look, there are promising ones here. IREN’s more of a hybrid, supplying the real estate power and shell while also running workloads. It’s an NVIDIA strategic partner too, and it’s growing like a weed. Keep in mind, if you have spare compute, someone like Anthropic will eagerly snap it up. Just today, TeraWulf signed a 20-year $19 billion deal with Anthropic, which sent their stock up nearly 5%.

Stock market data. Photo by Burak The Weekender on Pexels

IREN Limited (NASDAQ:IREN) operates a vertically integrated data center business. The company manages computing hardware and infrastructure while also engaging in Bitcoin mining.

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