AI and high-performance computing (HPC) stocks are rallying again, led by IREN (IREN), Bitfarms (BITF), and Hive Digital (HIVE), as investor enthusiasm grows around GPU demand and cloud deployments.

IREN gained after announcing multi-year AI cloud service agreements with top AI firms for NVIDIA Blackwell GPU deployments. The company is targeting $500 million in annualized run-rate revenue (ARR) by the end of Q1 2026, supported by 23,000 GPUs either active or on order.

Contracts covering 11,000 GPUs are expected to generate around $225 million ARR by the end of 2025. With typical two-year contract terms and efficient revenue payback, IREN is scaling across its British Columbia campuses and Horizon 1 & 2 data centers in Texas, which together can host over 100,000 GPUs powered by 2,910 MW of secured capacity.

Co-founder Daniel Roberts said, “Our ability to rapidly transition from ASICs to GPUs and scale Horizon 1 & 2 shows IREN’s unique positioning to meet the accelerating demand for AI compute.”

Sector Momentum Continues
The AI and HPC rally carried into early U.S. trading, with Bitfarms up 12% after Monday’s 15% gain and Hive Digital rising 10% following a 25% surge the previous session, underscoring growing investor interest in GPU-focused mining and cloud infrastructure.