Quick Read – The Stocks: IREN (IREN) surged over 13% after securing a $1.6 billion AI deal with Dell Technologies (DELL), positioning itself as an agile and fast-moving operator. – The analyst who called NVIDIA in 2010 just named his top 10 stocks and Iren wasn’t one of them.
The AI trade is heating up just in time for summer, and as we enter the month of June, the SpaceX IPO could crank up the heat several notches as a flood of investors finally get a chance to own a piece of Elon Musk’s space and AI empire. Who knows? It’s speculated that Tesla (NASDAQ:TSLA) might even be rolled in at some point down the road, injecting Optimus humanoid robots and electric vehicles (EVs) into the package.
Any way you look at it, the excitement is almost palpable as we head into June. While I wouldn’t place market orders on day one, even if one is comfortable paying a sky-high multiple and a valuation closer to the $2 trillion level than $1.25-1.5 trillion, I do acknowledge many Elon Musk fans have been waiting for far too long. And when they get their chance to punch a ticket, don’t count on them to walk away from IPO day empty-handed, even if it means paying a price that entails a more than $2 trillion market cap.