IREN Limited (NASDAQ:IREN) is one of the 10 Best Stocks to Buy According to Billionaire Rob Citrone.

IREN Limited (NASDAQ:IREN) is a relatively recent addition to the 13F portfolio of Discovery Capital Management. The fund first disclosed a stake in the firm in the fourth quarter of 2024. This holding comprised nearly 1.2 million shares. It was increased to 2.67 million shares and then to more than 4.1 million shares in the subsequent months. A trimming then followed, with the fund reducing the stake by 18% and 23% in the third and fourth quarter of 2025 respectively. At the end of last year, the fund owned 2.6 million shares in the firm.

READ MORE: 33 Stocks That Should Double in 3 Years.

IREN Limited (NASDAQ:IREN) is steadily emerging as more of a premier AI Infrastructure provider rather than just a Bitcoin miner. Hedge funds are also subscribing to this view. IREN controls a power portfolio of nearly 3,000 Megawatts (3GW)—more than the output of the Hoover Dam. In a 2026 market where power availability is the primary bottleneck for AI, this land and power grab is seen as a massive competitive advantage. A major catalyst for institutional interest is IREN’s $9.7 billion, 5-year contract with Microsoft. The deal involves dedicated liquid-cooled GPU clusters at IREN’s Childress campus, providing high-margin, predictable revenue that balances the volatility of Bitcoin mining.

While we acknowledge the potential of IREN as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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