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Thanks to AI/Bitcoin Data Centers, These Stocks Set to Boom
AI: The Biggest Advance Since the Internet
Most people forget that the internet was invented in 1983. However, it took until the late 1990s for the internet industry to go mainstream. Pivotal technological advancements, namely Tim Berners-Lee's World Wide Web invention, the development of web browsers, and the availability of high-speed internet, were pivotal advances that led to the internet age.
Since gaining popularity in the late 1990s, the internet industry has repeatedly delivered stock market winners. Could artificial intelligence stocks provide similar true market leaders like the internet once did? According to the world's top technologists, the answer is a resounding "Yes!"
"AI will have more impact than the personal computer, the phone or the internet. It's the most exciting innovation of my lifetime."~ Bill Gates, co-founder, Microsoft
Bitcoin: The Top Performing Asset
Unlike artificial intelligence, few saw the Bitcoin wave coming. Bitcoin started as a white paper in 2008 and was mainly used by internet nerds or for nefarious reasons like online drug transactions. However, the world's first and largest digital currency has defied many skeptics along the way and has transformed into the decade's top-performing asset class, accruing gains of more than 6,000%. Though Bitcoin's success has exceeded all expectations, its growth trajectory is still getting started.
What Does Bitcoin Mining and Artificial Intelligence Have in Common?
Bitcoin mining and artificial intelligence share a fundamental technological requirement: massive parallel computing power. Bitcoin miners use this technology to solve cryptographic puzzles to mine Bitcoin, while AI companies leverage the technology to train their models. Below are three companies that benefit from these two megatrends:
1. TeraWulf: Clean Energy Leader
TeraWulf is an "infrastructure-focused Bitcoin mining company accelerating the transition to a zero-carbon future." The company focuses on helping Bitcoin miners to mine Bitcoin using sustainable energy sources like nuclear, hydro, and solar energy. With massive data center construction underway for Bitcoin mining applications and AI, the need for clean energy is becoming abundantly clear.
Last week, Microsoftannounced a massive deal with Constellation Energyto revive the closed Three Mile Island by 2028 to power its data centers with nuclear energy. MSFT is likely the first mover, but other tech companies will likely follow suit and WULF is set up perfectly to benefit. By the end of 2025, the company estimates its energy production capability will double.
2. Core Scientific: Bitcoin Mining Leader
Core Scientific is one of the top digital asset miners and operates several data centers nationwide. CORZ derives most of its revenue from Bitcoin mining. Over the past three years, no other public company has mined more Bitcoin than CORZ.
3. Applied Digital Will Benefit from Nvidia Deal
Applied Digital is a "designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing (HPC) applications. Earlier this month, APLD shares soared 65% after the company announced a $160 million deal with Nvidia to bring its data center and GPU cloud solutions to scale. After digesting its recent gains, APLD shares are trying to break out of a multi-month base structure.
Bottom Line
Data centers, AI, and Bitcoin mining are three fast-growing businesses bound to be multi-year megatrends. CORZ, WULF, and APLD are three companies that should benefit for years.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.
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Zacks Investment Ideas feature highlights: TeraWulf, Core Scientific, Applied Digital and Nvidia
For Immediate Release
Chicago, IL – September 25, 2024 – Today, Zacks Investment Ideas feature highlights TeraWulf (WULF - Free Report) , Core Scientific (CORZ - Free Report) , Applied Digital (APLD - Free Report) and Nvidia (NVDA - Free Report) .
Thanks to AI/Bitcoin Data Centers, These Stocks Set to Boom
AI: The Biggest Advance Since the Internet
Most people forget that the internet was invented in 1983. However, it took until the late 1990s for the internet industry to go mainstream. Pivotal technological advancements, namely Tim Berners-Lee's World Wide Web invention, the development of web browsers, and the availability of high-speed internet, were pivotal advances that led to the internet age.
Since gaining popularity in the late 1990s, the internet industry has repeatedly delivered stock market winners. Could artificial intelligence stocks provide similar true market leaders like the internet once did? According to the world's top technologists, the answer is a resounding "Yes!"
"AI will have more impact than the personal computer, the phone or the internet. It's the most exciting innovation of my lifetime."~ Bill Gates, co-founder, Microsoft
Bitcoin: The Top Performing Asset
Unlike artificial intelligence, few saw the Bitcoin wave coming. Bitcoin started as a white paper in 2008 and was mainly used by internet nerds or for nefarious reasons like online drug transactions. However, the world's first and largest digital currency has defied many skeptics along the way and has transformed into the decade's top-performing asset class, accruing gains of more than 6,000%. Though Bitcoin's success has exceeded all expectations, its growth trajectory is still getting started.
What Does Bitcoin Mining and Artificial Intelligence Have in Common?
Bitcoin mining and artificial intelligence share a fundamental technological requirement: massive parallel computing power. Bitcoin miners use this technology to solve cryptographic puzzles to mine Bitcoin, while AI companies leverage the technology to train their models. Below are three companies that benefit from these two megatrends:
1. TeraWulf: Clean Energy Leader
TeraWulf is an "infrastructure-focused Bitcoin mining company accelerating the transition to a zero-carbon future." The company focuses on helping Bitcoin miners to mine Bitcoin using sustainable energy sources like nuclear, hydro, and solar energy. With massive data center construction underway for Bitcoin mining applications and AI, the need for clean energy is becoming abundantly clear.
Last week, Microsoftannounced a massive deal with Constellation Energyto revive the closed Three Mile Island by 2028 to power its data centers with nuclear energy. MSFT is likely the first mover, but other tech companies will likely follow suit and WULF is set up perfectly to benefit. By the end of 2025, the company estimates its energy production capability will double.
2. Core Scientific: Bitcoin Mining Leader
Core Scientific is one of the top digital asset miners and operates several data centers nationwide. CORZ derives most of its revenue from Bitcoin mining. Over the past three years, no other public company has mined more Bitcoin than CORZ.
3. Applied Digital Will Benefit from Nvidia Deal
Applied Digital is a "designer, builder, and operator of next-generation digital infrastructure designed for High-Performance Computing (HPC) applications. Earlier this month, APLD shares soared 65% after the company announced a $160 million deal with Nvidia to bring its data center and GPU cloud solutions to scale. After digesting its recent gains, APLD shares are trying to break out of a multi-month base structure.
Bottom Line
Data centers, AI, and Bitcoin mining are three fast-growing businesses bound to be multi-year megatrends. CORZ, WULF, and APLD are three companies that should benefit for years.
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.0 average gain per year. Amazingly, they soared with average gains of +44.9%, +48.4% and +55.2% per year.
Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Zacks Investment Research
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performancefor information about the performance numbers displayed in this press release.