Power Demand Forecast - US data centers' power demand is projected to surge to 106 gigawatts by 2035 [1]

A generational rift hangs over the reboot of a Three Mile Island reactor to power Microsoft data centers, with some seeing a step backward and others seeing the key to economic revival https://t.co/ei77zI8ciN ...

A London government watchdog wants tougher rules on building data centers, warning that their power demands may impinge on the construction of new homes in the crowded capital https://t.co/YFrk51KaFe ...

Tech & Business Developments - Deutsche Telekom and the Schwarz Group are collaborating to construct an AI data center, referred to as an "AI gigafactory" [2] - This initiative is part of a German consortium that includes SAP and Ionos, aiming for a share of the European Commission's €20 billion ($20.9 billion) "AI gigafactories" initiative [2] - Each gigafactory is projected to require an investment of €3-5 billion (US$3.39-5.66 billion) and is expected to house approximately 100,000 AI chips for training advanced AI models [2] Economic Indicators - New Zealand's building permits fell by a seasonally adjusted 5.2% month-on-month to 2,850 units in October, following a 7.2% increase in September [5] - The total number of new dwellings consented dropped by 16% year-on-year to 33,467 units [6] - The annual value of non-residential building work consented decreased by 3.5%, totaling NZ$9.3 billion [6] Military Operations Under Scrutiny - Defense Secretary Pete Hegseth is facing controversy over allegations of ordering a "second boat strike" in the Caribbean, which he has denied as "fabricated" [7] - U.S. forces have conducted over 20 boat strikes in the Caribbean and eastern Pacific since September, resulting in at least 80 deaths [7]

Core Insights - Tech stocks, particularly in the Nasdaq, have shown resilience in 2025 with a gain of approximately 20% despite early-year volatility [1][2] - Historical trends suggest that bull markets lasting three years often extend to an average of eight years, indicating potential for continued growth in the Nasdaq [2] - Major technology companies have reported strong quarterly results, reinforcing the sustainability of the Nasdaq's rally [2] Company Analysis: Nvidia - Nvidia's stock has increased by 34% in 2025, currently trading around $180, driven by high demand for its data center GPUs [4][5] - The company has a backlog of booked orders worth $307 billion, significantly exceeding its past four quarters' revenue of $187 billion, leading to heightened growth expectations for the next fiscal year [7][10] - Analysts forecast a 58% increase in Nvidia's earnings for fiscal 2027 to $7.43 per share, with the stock trading at a lower price-to-earnings ratio compared to the Nasdaq 100 index [10] Company Analysis: Applied Digital - Applied Digital's stock has surged by 211% in 2025, currently priced around $24, despite a recent decline of about 33% from its October peak [12][13] - The company is expanding its data center capacity, with existing leases representing potential revenue of $16 billion and plans for 700 MW of capacity by 2027 [14] - With $5 billion in funding secured for future development, Applied Digital's growth is expected to accelerate, potentially increasing its market cap by 27% based on projected revenue [16][17]

Market Overview - The current market sentiment is positive despite some headwinds such as rising inflation and unemployment [1][2] - The Federal Reserve's actions on interest rates are anticipated to impact consumer behavior and market performance [2] AI Industry Insights - The AI sector, particularly companies like Nvidia, is expected to continue growing, although there are concerns about stock valuations and earnings performance [3][4] - Nvidia's recent earnings report led to a stock price decline, indicating potential weakness despite strong sales prospects [4] Investment Strategies - Investing in the "picks and shovels" of the AI industry, such as HVAC and data centers, is recommended as a more stable approach [5][8] - The HVAC ETF has shown a year-to-date increase of over 25%, outperforming sectors like crypto and data servers [7][8] Specific Company Performance - Comfort Systems and Amphenol are highlighted as top picks within the HVAC sector, with Comfort Systems up 120% and Amphenol up 100% this year [6] - The HVAC industry is characterized as a reliable sector driving growth for AI-related companies [8][15] Cryptocurrency Market - Bitcoin has experienced a 20% decline this month, but there is potential for recovery, suggesting it may be a buying opportunity [9][10] - The historical volatility of stocks like Amazon is referenced to illustrate the potential long-term value of holding onto investments like Bitcoin [10][12] Economic Indicators - Rising costs in essential areas such as food, housing, and education are impacting consumer affordability, despite lower gasoline prices [20][21] - The administration's focus on job creation and economic growth is seen as a potential driver for market opportunities, although challenges remain for consumers [22]

Iren Limited (NASDAQ:IREN) is one of the best upside stocks to buy now. On November 24, JPMorgan raised the firm’s price target on Iren to $39 from $28 and kept an Underweight rating on the shares. The recent surge in M&A activity within the HPC sector has led JPMorgan to have greater confidence in Bitcoin mining companies, such as Iren. This increased conviction is attributed to the bank’s use of higher valuation assumptions for the miners, which are based on viewing them as integrated cloud businesses. ...

Core Insights - IREN Limited (NASDAQ:IREN) is recognized as a top short squeeze stock, with Citizens initiating coverage and setting a price target of $80, highlighting a strategic pivot from bitcoin mining to AI high-performance computing services [1][2] - A significant $9.7 billion deal has been signed between IREN Limited and Microsoft, where Microsoft will utilize IREN's data-center capacity to enhance its AI cloud services, including a 20% prepayment and a commitment to purchase $5.8 billion in GPUs and hardware from Dell [1] Company Overview - IREN Limited operates as a Bitcoin mining and AI data center company across North America, providing high-performance computing infrastructure and GPU-based cloud services to enterprises and institutional clients [2] Market Dynamics - The GPU-as-a-Service (GPUaaS) model is noted for offering quicker returns and higher yields compared to traditional leasing, although it is expected to become increasingly competitive over time [2]

Core Viewpoint - Cipher Mining has experienced significant growth in its stock value and operational capabilities, transitioning from a Bitcoin miner to a key player in high-performance computing (HPC) and AI infrastructure, despite a recent pullback in share price [1][5][11]. Company Overview - Founded in 2021, Cipher Mining is based in New York and initially focused on large-scale Bitcoin mining, with a current market capitalization of approximately $6.6 billion [2]. - The company is expanding its role in digital infrastructure by developing industrial-scale data centers that support both crypto operations and HPC workloads, including AI [2]. Financial Performance - Cipher Mining's Bitcoin mining revenue nearly tripled year-over-year, increasing from $24.1 million to $71.7 million [8]. - The company self-mined 689 bitcoins in Q3 2025, a 35% increase from 509 bitcoins in Q2 2025 [8]. - Adjusted EPS improved to $0.10 from a loss of $0.01 per share in the previous year, with a significant increase in cash and cash equivalents to $1.2 billion as of September 30, up from $62.7 million on June 30 [9]. Strategic Partnerships - Cipher Mining has expanded its 10-year HPC colocation partnership with Fluidstack, adding 39 MW of critical IT load to its Barber Lake HPC data center in Texas [4][5]. - The company signed a $5.5 billion, 15-year lease with Amazon Web Services (AWS) to provide data-center space for AI workloads, with operations set to begin in July 2026 [10][11]. Market Sentiment and Analyst Ratings - Analysts on Wall Street are increasingly bullish on Cipher Mining, with several firms raising their price targets significantly, reflecting confidence in the company's strategic direction and partnerships [12][13][14]. - The stock has a "Strong Buy" consensus among analysts, with an average price target suggesting a potential upside of 30.8% from current levels [15].

I think there’s a general trend to think of data centers as a homogeneous mass of a singular thing. But there are four distinct categories of data centers, and each one has its own nuance and characteristics. We exist in one of those categories. There’s the hyperscale category, the ones built by cloud-service providers, where you see massive investment. The second category is wholesale, where you’re usually building a facility to lease back to one tenant, maybe two, usually supporting (AI) training. The thi ...