Northern Data is strategically poised to leverage the expanding artificial intelligence (AI) market, according to a report by Canaccord Genuity. The brokerage has initiated coverage of Northern Data with a buy rating and set a target price of 60 euros (approximately $62). The firm highlighted that Northern Data's infrastructure is critical for supporting growing demands from AI and high-performance computing sectors. Additionally, discussions about potentially selling its Peak Mining business could release significant capital for further investment in GPUs and data centers, enhancing future growth beyond fiscal year 2025. Despite a 74% increase in stock value over the past three months, Canaccord sees further upside potential, driven by strong investor interest. The report emphasizes Northern Data's front-running role in what is expected to be a transformative period for AI technologies.

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