2 months ago
Infrastructure providers, specified arsenic Northern Data (NB2), are good positioned to payment from the increasing request from artificial quality (AI) and high-performance computing (HPC) firms, broker Canaccord Genuity said successful a study Thursday initiating sum of the stock.
Canaccord assumed sum of the shares with a bargain standing and a 60 euro ($62) terms target. The banal was trading 2.4% higher astatine 45.65 euros astatine work time.
Companies similar Northern Data are "building the railroad for the AI golden rush," analysts led by Kingsley Crane said. The company's Taiga Cloud concern has travel online astatine the "forefront of what is shaping up to beryllium a generational opportunity."
The broker noted that Northern Data, which is 52% owned by stablecoin issuer Tether, has already announced it was exploring options to merchantability its Peak Mining business.
A imaginable divestiture would springiness Northern Data currency to put successful GPUs and data-center facilities, and would "meaningfully amended the company's maturation runway beyond FY25," the study said.
The shares inactive connection imaginable upside contempt the 74% rally successful the past 3 months, Canaccord said, adding that "investor appetite is evident."
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