Howard Lutnick’s Cantor Fitzgerald simply dropped a whopping $126 million on Mr. Market’s extra stunning AI infrastructure tales in Iren Restricted (IREN).
The previous bitcoin miner has shortly advanced right into a critical participant in AI infrastructure, and Cantor’s endorsement provides one other layer of credibility.
For perspective, it wasn’t precisely 1 / 4 the place Cantor was broadly seeking to load up on danger, both.
Its portfolio market worth dropped to $6.59 billion (down from $10.3 billion beforehand), per WhaleWisdom. Web flows confirmed that general exercise resulted in a roughly 20.75% internet outflow in comparison with the entire market worth.
Apparently, different big-money 13F filings underscore an analogous “AI plumbing” story.
Ken Griffin’s Citadel went the toughest, loading up on $2.52 billion of Amazon inventory and doubling down on Nvidia, elevating that stake to just about $4 billion.
Then billionaire David Tepper’s Appaloosa made Micron the headline, dropping practically $285 million on the reminiscence large. Jim Simons’ Renaissance swung laborious at Micron, too, including $520 million of Micron whereas trimming Nvidia and Google-parent Alphabet.
Ray Dalio’s Bridgewater additionally went all-in on the AI core with a contemporary $253 millionNvidia addition, constructing its stake round Oracle and Micron as infrastructure sidekicks.
Iren is an enormous testomony to that overarching theme, with Cantor positioning it as one other picks-and-shovels participant within the AI arms race.
Cantor Fitzgerald disclosed a $126 million stake in AI-focused IREN inventory.
Photograph by Alex Wong on Getty Pictures
Cantor Fitzgerald portfolio exercise
- Market worth: $6.59 billion (prior: $10.3 billion)
- Inflows (outflows) as % of whole MV: (−20.75%)
- New purchases: 88 shares
- Added to: 58 shares
- Offered out of: 241 shares
- Decreased holdings in: 52 shares
- Prime 10 holdings focus: 43.53%
- Turnover: 72.95%
Supply: WhaleWisdom
Who’s Howard Lutnick?
Howard Lutnick is finest described as a Wall Road survivor-turned-power dealer, incomes his fame as a disaster man by working Cantor Fitzgerald by way of the aftermath of 9/11.
Lutnick isn’t precisely your common superstar stock-picker, although. He is a builder who has spent years reshaping the plumbing of finance.
As a substitute of the standard scorching takes, his energy was construction, together with markets, deal move, execution, and creating establishments that might endure the hits.
Extra Fund Managers:
- Ray Dalio’s Bridgewater invests $253 million in main AI inventory
- JPMorgan builds $2.93 billion stake in well being care inventory
- Jim Simons’ Renaissance drops $520 million on surging tech inventory
Within the investing world, Lutnick is inseparable from Cantor Fitzgerald, a bond-trading and institutional brokerage store he helped take to unsurpassable heights.
On Sept. 11, 2001, Cantor’s workplaces on the World Commerce Heart suffered catastrophic losses, together with the demise of Lutnick’s brother, however he was capable of flip issues round in emphatic style and have become the face of the agency’s unimaginable comeback.
Cantor’s “big firm” credentials are backed up by the numbers.
For perspective, a Wall Road Journal report from November final 12 months confirmed that Cantor was on observe to shut out its finest 12 months ever, topping an attention-grabbing $2.5 billion in income.
On the asset aspect, Cantor’s asset-management platform has been touted as overseeing practically $14.8 billion in belongings below administration unfold throughout a number of autos.
As of late, although, Lutnick isn’t working the day-to-day anymore.
He was confirmed by the Senate on Feb. 18, 2025, and by the Division of Commerce because the forty first U.S. Secretary of Commerce.
In assuming the position, Lutnick stepped down as chairman and CEO of Cantor, with management shifting to three co-CEOs (Sage Kelly, Pascal Bandelier, and Christian Wall), as reported by The Wall Road Journal. His two sons have additionally taken on bigger senior roles inside the enterprise.
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Cantor Fitzgerald’s greatest 13F strikes
Prime buys (largest worth)
- IREN Ltd. (put): $190 million
- NVIDIA Corp. (put): $177 million
- IREN Ltd.: $126 million
- BitMine Immersion Applied sciences (put): $124 million
- M3-Brigade Acquisition: $81.1 million
Supply: WhaleWisdom
Prime sells (largest worth)
- Superior Micro Gadgets (put): -$0.57 billion
- State Road SPDR S&P (put): -$474 million
- Superior Micro Gadgets: -$295 million
- Technique Inc.: -$240 million
- State Road SPDR S&P (name): -$115 million
Supply: WhaleWisdom
13F holdings abstract
- NVIDIA Corp. (put): 12.87% of portfolio
- NVIDIA Corp.: 8.49% of portfolio
- Technique Inc.: 5.6% of portfolio
- Superior Micro Gadgets (put): 3.25% of portfolio
- IREN Ltd. (put): 2.88% of portfolio
Supply: WhaleWisdom
Iren is rising as an AI powerhouse
Iren is a kind of breakout AI tales that makes you do a double-take.
It constructed its basis in maybe essentially the most power-hungry business on the planet, in Bitcoin mining.
That, in some ways, performed proper into its palms. It compelled the corporate to effectively grasp low cost, safe electrical energy, construct massive-scale websites shortly, and handle high-intensity computing.
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Now it’s making use of that tried-and-tested playbook to GPU-heavy AI cloud infrastructure, with its bull case centering on energy, pace, and unmatched credibility.
- Energy is the brand new shortage in AI: Iren has been quietly constructing the spine to assist dense AI workloads, whereas increasing its grid-connected energy to 2,910 megawatts and working information heart capability to 810 megawatts.
- Hyperscaler validation: Iren’s large $9.7 billion, five-year Microsoft deal positions it squarely within the AI provide chain.
- Nvidia ecosystem entry: Iren’s been doubling down on next-gen methods powered by liquid cooling, securing Most well-liked Associate standing and rising its fleet to roughly 10,900 Nvidia GPUs.
IREN inventory vs. S&P 500
- 1-month: IREN Restricted: -26.32%; S&P 500: 1.66%
- 6-month: IREN Restricted: 102.33%; S&P 500: 8.03%
- YTD: IREN Restricted: 5.85%; S&P 500: 0.94%
- 1-year: IREN Restricted: 223.46%; S&P 500: 12.95%
Supply: In search of Alpha
Iren backed its AI push with genuinely spectacular outcomes.
In FY25, the corporate generated $501 million in gross sales, $86.9 million in internet earnings, alongside $269.7 million in adjusted EBITDA, in line with Blockspace.
The shift turned even clearer in Q2 FY26, when it posted AI Cloud Providers gross sales of $17.3 million, up from $7.3 million within the earlier quarter, Zacks Funding Analysis reported. Bitcoin mining gross sales dropped to $167.4 million, down from $233.0 million. Additionally, adjusted EBITDA got here in at a mighty spectacular $75.3 million, a 41% margin.
Daniel Roberts, co-founder and co-CEO of IREN, gushed concerning the firm’s leads to its newest earnings name.
Additionally, liquidity has develop into a serious speaking level within the AI arms race, and Iren wrapped up the 12 months with a formidable $3.26 billion in money and money equivalents.
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