IREN Limited (NASDAQ:IREN) is set to release its quarterly earnings with an anticipated EPS of -$0.24 and projected revenue of $227.3 million.The company expects a significant revenue surge of over 92% year-over-year, driven by AI cloud-led growth and data center expansion.Despite positive revenue projections, IREN faces challenges with substantial capital spending and potential funding and dilution risks.IREN Limited, listed on the NASDAQ as IREN, is set to release its quarterly earnings on February 5, 202 ...

Core Insights - The article highlights a critical shift in AI development where power supply has become the new bottleneck, surpassing chip availability as the limiting factor for growth [2] - Companies are focusing on building and optimizing infrastructure to support the energy demands of AI systems [2] Company Summaries Iren Ltd. - Iren Ltd. has transitioned from Bitcoin mining to high-performance computing, acquiring significant GPU fleets to support AI [5] - The company reported a 226% year-over-year revenue increase to $187 million in Q4 fiscal 2025, with improved gross margins from AI services [5] - Iren's diversification into both crypto mining and AI cloud services provides a cushion against market fluctuations, and its status as a Nvidia preferred partner ensures priority access to GPUs [6][7] Applied Digital - Applied Digital designs AI-optimized data centers, with its Polaris Forge campus planned to reach 1 gigawatt of capacity [8] - The company has secured a lease with CoreWeave, indicating demand for its facilities, but trades at a high valuation of approximately 34 times trailing sales [9] - The stock's valuation reflects both potential upside and risks associated with execution, including construction delays and cost overruns [10] Poet Technologies - Poet Technologies addresses the energy cost of data movement within data centers through its optical interposer platform, which uses light for communication [11] - The company has started generating modest revenue but continues to incur losses as it invests in R&D and manufacturing [12] - With a market cap under $500 million, the stock presents high-risk, high-reward potential, dependent on successful design wins [13] Investment Perspectives - For exposure to AI infrastructure, Iren is considered the most stable option due to its dual business model and existing capacity [14] - Applied Digital could yield high returns if it meets execution targets, but its current premium valuation poses risks [14] - Poet Technologies is viewed as a speculative investment with significant execution risks until it achieves revenue scale [14][15]