Bitcoin miners charged higher early Tuesday as Iren announced new multiyear artificial intelligence cloud contracts. Cryptocurrency prices held their gains to start the week as bitcoin trades near record highs. Iren (IREN) on Tuesday announced it signed new multiyear cloud services contracts with "leading AI companies" for Nvidia (NVDA) Blackwell graphics processing unit (GPU) deployments. The company in September said… Related news Stock Market Today: Dow Rises As IBM, Iren, AMD Rally; Cheap Tesla On Tap? ...

Group 1 - Nvidia is hosting its annual GTC event from March 17 to March 21, focusing on artificial intelligence with numerous sessions on related topics [1] - CEO Jensen Huang will deliver a keynote speech that is expected to outline the company's product roadmap and market opportunities [2] - Historically, Nvidia stock has performed poorly in the month following GTC events, with an average decline of 12% over the last five events [4][5] Group 2 - Despite past performance, GTC 2025 may differ as analysts view Nvidia's stock as undervalued, with a median target price of $175 per share, indicating a potential 45% upside from the current price of $120 [6] - Nvidia dominates the data center GPU market, which is crucial for AI accelerators, with AI accelerator spending projected to grow at 29% annually through 2030 [7] - The demand for generative AI has been a key driver for Nvidia since the launch of ChatGPT in late 2022, positioning the company at the forefront of the AI revolution [8] Group 3 - Jensen Huang introduced Nvidia Cosmos, a full-stack robotics solution that enhances Nvidia's data center hardware and software tools [9] - Wall Street estimates Nvidia's earnings will grow at 39% annually through fiscal 2027, suggesting the current valuation of 40 times earnings is relatively cheap [10] - Investors are advised to consider historical data while maintaining a long-term perspective, suggesting a strategy of buying a small position before GTC 2025 and potentially adding more shares later [11]