Canaccord 'Al' Signal Given: Artificial Intelligence Opportunity Shines in the Cryptocurrency Sector! - Coin Bulletin

A recent report has revealed that the increasing demand in the artificial intelligence and high-performance computing sectors could open up new opportunities.

According to a report published by global financial services company Canaccord Genuity, Northern Data (NB2), which is among the infrastructure providers, has a significant growth opportunity due to increasing demand from artificial intelligence (AI) and high-performance computing (HPC) companies.

Canaccord, which gives a buy recommendation for the company, stated its target price for the stock as 60 euros (62 dollars). At the time of the news release, Northern Data shares were trading at 45.65 euros, up 2.4%.

"Building Railways in the Attack on Artificial Intelligence"

The team led by Canaccord analysts Kingsley Crane stated that Northern Data is in a position of 'building railways in the AI gold rush' with the rise of its artificial intelligence ecosystem. The company's Taiga Cloud business unit was emphasized to be at the forefront of this 'generational opportunity'.

The report also revealed that 52% of Northern Data is owned by the stablecoin issuer Tether and that it is considering selling its Peak Mining unit.

It was stated that this potential sale would allow the company to obtain cash to invest in GPUs and data center facilities, thus meaningfully improving the company's growth trajectory after the 2025 fiscal year.

This Stock Can Continue to Rise

Canaccord noted that Northern Data shares have gained 74 per cent over the past three months, but still have upside potential. The report also highlighted that investor interest is strongly felt.

This situation demonstrates the increasing demand of companies operating in the artificial intelligence and high-performance computing sectors for infrastructure providers to take advantage of future growth opportunities.