IREN is undervalued and worth about $40; I am buying more after its fall to below $3 from the late $40s in September. It has more than 5 gigawatts of power-ready capacity, a nearly $9.7 billion Microsoft GPU-access deal, AI cloud revenue up from $16 million to ~$129 million, and 2026 capacity almost sold out.

, the share price typically does not fall below this level. It is true that it has declined slightly, but it has rarely closed below $15 per share over the past year. Therefore, I believe the stock is undervalued .

The fifth stock is iRent (its stock symbol is IREN). iRent quickly became one of the most interesting infrastructure companies in the market. My interest in it stems from one main factor: energy.

AI data centers require enormous amounts of electricity, and access to this power is one of the biggest obstacles limiting the growth rate of this sector. iRent spent years building this particular infrastructure because it was working in the field of Bitcoin mining , which is entirely dependent on electricity.

Now, the company controls a huge portfolio of data center sites , with access to more than 5 gigawatts of power across its current and emerging projects. The company is currently using this infrastructure to build AI cloud computing services.

Therefore, iRent does not simply buy graphics processing units (GPUs) hoping that someone will rent them out, but develops the entire infrastructure around these units, including land, power, data centers, cooling, networks, computing capabilities, and everything else needed to run these massive AI systems.

It has already attracted some serious clients, including Microsoft. It seems that Microsoft is a customer for everyone . Therefore, there is a complete cycle of customers and companies dealing with each other.

These customers are business-to-business (B2B) customers. There is enormous spending on this sector.

That's why I like I Rent. I'm a fan of Navitas, aren't I ? There are many AI companies that currently appeal to me because money is flowing in large quantities, and this is a very exciting sector.

Well, I would say that there are definitely some popular stocks in this market. But when I look at I Rent, I find it interesting because it just signed a multi- year agreement with Microsoft worth nearly $9.7 billion to provide access to Nvidia's graphics processing units.

It has also signed contracts with AI clients , including Proplexity and Figure AI. I think this is important because it confirms the soundness of the infrastructure that has spent years building.

There are many companies that want to participate in the artificial intelligence boom. There are far fewer companies that actually control gigawatts of power and have the ability to convert that power into actual computing power.

This is the aspect of " iRan" that interests me.

If demand for AI-powered computing continues to grow, iRAN already controls one resource that has become increasingly difficult to find: large-scale, power-ready data center capacity.

The financial situation also looks very good. iRan generated total revenues of nearly $707 million , an increase of 41% over the previous year.

But the figure that interests me most is the revenue from AI- powered cloud computing . These revenues increased from just $16 million to approximately $129 million in one year.

That's approximately eight times what the company earns from this specific activity.

Even that number doesn't fully reflect what's coming, because iRan says it already has about $1 billion in annual revenue from AI- powered cloud computing currently in operation, and about $4 billion in annual revenue contracted and tied to its 2026 capacity.

In fact, management says the 2026 capacity is almost entirely sold out . There is a huge gap between what we see in historical financial data and the actual volume of AI work that has been contracted.

This is a future-oriented figure that I'm focusing on .

Now, let's look at the technical analysis; I-Run stock has experienced a sharp and significant decline. Therefore, I am very optimistic about this stock.

Well, here's I-Run's violent move, having dropped sharply from the late 40s in September just two weeks ago , and now the stock has completely collapsed. I mean, to less than $3 per share .

Technically speaking, it has already fallen below its July lows. Therefore, I believe there are many losses for I-Run investors at the moment. This is precisely what I like about the stock at the moment .

I am very interested in getting into this stock. When a stock drops this much, that's exactly the kind of technical move I prefer. Honestly, I think the stock is worth around $40 , so I've lost money on it, and I'm looking to buy more because I think it's undervalued at the current level.