IREN Limited (NASDAQ:IREN) is ranked among the best short squeeze stocks to buy right now. Citizens started coverage of IREN with a $80 price target and Market Outperform rating, noting the company’s shift from bitcoin mining to high-performance computing services in the AI industry. In a $9.7 billion deal, Microsoft will use IREN’s data center capacity to expand its AI cloud services. IREN will purchase $5.8 billion in GPUs and hardware from Dell. While the GPUaaS model offers quick returns, Citizens warns it may become more competitive over time. IREN provides high-performance computing infrastructure and GPU-based cloud services.

Read more at Yahoo Finance: Citizens Initiates Market Outperform on IREN Limited (IREN) as it Shifts Focus from Bitcoin Mining to AI High-Performance Computing