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AI infrastructure is the physical foundation of the current technological shift. It relies on high-density data centers engineered to house thousands of specialized GPUs. Unlike traditional facilities, these AI Factories must manage rack densities that are five to ten times higher than legacy cloud servers. This surge in power density generates extreme heat, making advanced liquid cooling and direct-to-grid power connections the essential moats for companies in this sector.
The Great Pivot: From Mining to Hyperscale
The Next-Generation AI infrastructure trade is defined by a rapid convergence of assets. While traditional data center operators face four to six year wait times for new power hookups, a new class of AI Utilities including Nebius (NBIS), IREN (IREN), and Applied Digital (APLD) is bypassing these bottlenecks by repurposing existing industrial grid access to deploy liquid-cooled clusters in months rather than years.Â
These sector leaders are currently executing some of the largest infrastructure builds in history, with NBIS scaling a sovereign AI cloud targeting a $7 billion to $9 billion annualized revenue run rate by 2026, IREN evolving into a hyperscale partner via a landmark $9.7 billion deal with Microsoft (MSFT), and APLD pioneering gigawatt-class campuses in North Dakota with prospective lease revenue estimated at $16 billion from anchor tenants like CoreWeave (CRWV).
Trading the High-CapEx Growth Story
As these firms transition from Bitcoin mining into pure-play AI infrastructure, their financial profiles have fundamentally decoupled from crypto markets. NBIS has surged over 120% in the past year, while IREN and APLD continue to trade with high betas (a measure of an asset’s volatility compared to the overall market) following their Q2 2026 earnings results. For traders, the high-capital expenditure required for these builds makes sharp, event-driven price swings a permanent feature of the growth narrative.
Heightened volatility is expected as these two companies release their upcoming earnings reports. To seek to capitalize on these moves, Tradr ETFs offers 2X leveraged and inverse ETFs that allow active traders to amplify their daily exposure to each stock:
Tradr ETFs | ETF Symbol | Description |
Tradr 2X Long NBIS Daily ETFTradr 2X Short NBIS Daily ETF | Cboe:Â NEBXCboe:Â NBIZ | 200% leverage on Nebius Group stock-200% inverse on Nebius Group stock |
Tradr 2X Long IREN Daily ETFTradr 2X Short IREN Daily ETF | Cboe:Â IREXCboe:Â IREZ | 200% leverage on IREN stock-200% inverse on IREN stock |
Tradr 2X Long APLD Daily ETFTradr 2X Short APLD Daily ETF | Cboe:Â APLXCboe:Â APLZ | 200% leverage on Applied Digital stock-200% inverse on Applied Digital stock |
Nebius Group (NBIS)
Nebius Group is a pure-play AI infrastructure provider and a full-stack European alternative to US cloud giants. Headquartered in the Netherlands, the company operates high-density data centers equipped with NVIDIA H100 and next-generation Blackwell GPUs. By managing the entire hardware-software stack, Nebius offers AI-native firms high-performance compute at competitive prices.
The company is executing an aggressive scaling plan, targeting an Annualized Run Rate (ARR) of $7 billion to $9 billion by the end of 2026. This follows a massive infrastructure blitz aimed at increasing connected power from 220 megawatts to 1 gigawatt (GW) by the end of next year. The analyst consensus remains a Strong Buy with an average price target of $142.38.
Nebius Group delivered an impressive earnings release on February 12, reporting a staggering 547% year-over-year revenue surge to $227.7 million for Q4. The company significantly outperformed earnings expectations, beating the consensus estimate. Most notably, Nebius exceeded its own guidance by finishing the year with $1.25 billion in Annual Recurring Revenue (ARR). Looking ahead, management set a bold trajectory for 2026, targeting up to $9 billion in ARR and expanding its power capacity toward a massive 1 GW goal.
The Tradr 2X Long NBIS Daily ETF (NEBX) seeks to provide double the daily exposure to NBIS's price action. For more information about NEBX, CLICK HERE.
The Tradr 2X Short NBIS Daily ETF (NBIZ) seeks to provide double the inverse daily exposure to NBIS's price action. For more information about NBIZ, CLICK HERE.
IREN (IREN)
IREN has transitioned from Bitcoin mining into a vertically integrated AI cloud platform powered by renewable energy. On February 5, 2026, the company reported Q2 2026 results that highlighted this strategic pivot. While total revenue of $184.7 million reflected the volatility of the cryptocurrency market, the underlying story was the explosive growth in its AI segment, where cloud services revenue jumped 137% sequentially to $17.3 million.
The company is currently executing a 140,000 GPU expansion targeting $3.4 billion in annualized revenue by the end of 2026 using NVIDIA Blackwell GPUs. This growth is backed by a $3.6 billion financing package and a $1.9 billion Microsoft prepayment, which fully funds the capital requirements for its landmark $9.7 billion AI contract. Infrastructure continues to scale with a new 1.6 GW Oklahoma campus, bringing total secured power to 4.5 GW.
Despite a $155.4 million net loss from one-time charges, a robust $2.8 billion cash position supports the company's shift to GPU infrastructure. For traders, IREN’s high-beta profile provides significant opportunity as the market increasingly values its hyperscale contracts over legacy mining.
The Tradr 2X Long IREN Daily ETF (IREX) seeks to provide double the daily exposure to IREN's price action. For more information about IREX, CLICK HERE.
The Tradr 2X Short IREN Daily ETF (IREZ) seeks to provide double the inverse daily exposure to IREN's price action. For more information about IREZ, CLICK HERE.
Applied Digital (APLD)
Applied Digital designs and operates the high-density, liquid-cooled data centers essential for next-generation AI. Based in Dallas, the company has successfully pivoted from digital asset hosting to becoming a critical infrastructure partner for hyperscalers. Its fiscal Q2 2026 earnings, reported on January 7, 2026, showcased this momentum with revenue nearly doubling year-over-year to $126.6 million, comfortably beating consensus estimates.
The company’s growth is anchored by its massive North Dakota expansion. Its Polaris Forge campuses are projected to generate $16 billion in lease revenue over 15 years, supported by an anchor partnership with CoreWeave and a new $5 billion lease with a major U.S. hyperscaler. To maintain its "speed to market" advantage, APLD recently secured a $50 million note to accelerate its Harwood site development. Analysts remain bullish despite the high-CapEx phase, maintaining an average price target of $49.15 as investors look toward the next earnings report estimated to be released on April 13, 2026.
The Tradr 2X Long APLD Daily ETF (APLX) seeks to provide double the daily exposure to APLD's price action. For more information about APLX, CLICK HERE.
The Tradr 2X Short APLD Daily ETF (APLZ) seeks to provide double the inverse daily exposure to APLD's price action. For more information about APLZ, CLICK HERE.
Trade the AI Infrastructure Race With Leverage
The evolution of Nebius, IREN, and Applied Digital into pure-play "AI Utilities" represents a major shift in the tech landscape. As these firms secure gigawatt-scale power and deploy liquid cooling, they have created a new asset class defined by massive capital expenditure and significant revenue potential. While the long-term story is built on a "Time-to-Power" moat, the path ahead will likely be shaped by high-beta volatility from construction milestones and power-grid approvals.
Active traders can utilize specialized tools to navigate this high-volatility environment. The daily reset of 2X leveraged ETFs like NEBX, IREX, and APLX, along with their inverse counterparts NBIZ, IREZ, and APLZ, can help manage exposure to these price swings. Whether seeking to amplify a breakout earnings move or express a bearish view during a sector pullback, these funds turn intense market moves into a strategic advantage. In 2026, the ability to respond to these catalysts with 2X daily precision is a powerful option for those on the front lines of the AI revolution.
Leveraged ETFs Involve Significant Risks
Tradr ETFs are for sophisticated investors and professional traders with high conviction views and are very different from most other exchange-traded funds. Know the risks before you invest. The significant risks of leveraged and/or inverse ETFs include the risks of leverage, derivatives, and/or other complex investment strategies that they employ. These investments are designed for short-term trading for investors seeking daily, monthly or quarterly leveraged investment results.
Investors in the fund should: (a) understand the risks associated with the use of leverage; (b) understand the consequences of seeking daily, calendar month and calendar quarter inverse and leveraged investment results; (c) for short ETFs, understand the risk of shorting; (d) intend to actively monitor and manage their investment. Fund performance will likely be significantly different than the benchmark over periods longer than the specified reset period and the performance may trend in the opposite direction than its benchmark over periods other than that period.
The Funds seek leveraged investment results over a specific period and are intended to be used as short-term trading vehicles. The Funds pursue leveraged investment objectives, which means they are riskier than alternatives that do not use leverage because the Funds magnify the performance of their underlying security. The volatility of the underlying security may affect a Fund’s return as much as, or more than, the return of the underlying security.
The Fund will not attempt to position its portfolio to ensure it does not gain or lose more than a maximum percentage of its net asset value on a given trading day. As a consequence, investors in a Fund that seeks two times daily performance would lose all of their money if the Fund’s underlying security moves more than 50% in a direction adverse to the Fund on a given trading day.
ETFs involve risk including possible loss of principal. There is no assurance that the Fund will achieve its investment objective. Principal risks and other important risks may be found in the prospectus.
Investors should carefully consider the investment objectives, risks, charges and expenses of the fund before investing. To obtain a prospectus containing this and other important information, please visit www.tradretfs.com to view or download a prospectus online. Read the fund’s prospectus carefully before you invest.
Distributed by ALPS Distributors, Inc, which is not affiliated with AXS Investments or its Tradr ETFs. AXI000866
The above is sponsored content. Barchart was paid up to seventeen thousand five hundred dollars for placement and promotion of the content on this site and other forms of public distribution covering the period of January - February 2026. For more information please view the Barchart Disclosure Policy here.
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