Northern Data (NB2) is poised to capitalize on the increasing demand from AI and high-performance computing sectors. Canaccord Genuity has initiated coverage with a buy rating and a 60 euro ($62) price target. The stock rose 2.4% to 45.65 euros upon the report’s release. Northern Data’s Taiga Cloud is at the forefront of this “generational opportunity.” The company, 52% owned by Tether, is exploring selling its Peak Mining business, which could provide funds for GPU and data-center investments. Despite a 74% rally in the last three months, Canaccord believes there’s still significant upside potential.
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