3 Under-the-Radar Tech Stocks That Could Outperform the Nasdaq in 2026
The Motley Fool highlights three lesser-known tech stocks it says could outperform the Nasdaq in 2026. Iren (NASDAQ: IREN) secured Microsoft capacity deals totaling $9.7B for 200MW and a $3.4B Nvidia deal for 60MW, plus $3.7B contracted annual recurring revenue expected by year-end. MaxLinear (MXL) reported 43% YoY revenue growth in Q1 and said infrastructure grew 35% sequentially and 136% YoY, guiding Q2 revenue to $165M midpoint. Innodata (INOD) reported Q1 revenue of $90.1M (+54% YoY) and exp
How this was made
The 30-second read
Why it matters
The trading relevance is primarily from (1) hyperscaler contract awards and capacity commitments (IREN), (2) evidence of sequential growth and profitability guidance in optical interconnects (MXL), and (3) a new Big Tech contract driving forecast growth and diversification (INOD).
Market read
For traders, the actionable angle is whether the cited contract/segment momentum translates into sustained quarterly execution and estimate revisions into 2026.
What to watch
Potential bottlenecks include MW ramp timing, power availability/permits, customer concentration despite diversification, and optical interconnect pricing/competitive dynamics.
Background
The article argues that select AI infrastructure/data-enablement vendors have outperformed the Nasdaq and could continue in 2026, citing contracts, segment growth, and forecast upgrades.
Ticker impact
Iren secured a five-year $9.7B deal with Microsoft for 200MW capacity and a $3.4B Nvidia deal adding 60MW, boosting contracted AI data-center revenue visibility.
Moderate upside bias as investors price in MW-to-ARR conversion and margin expansion from Mirantis integration.
The article cites large, named hyperscaler contracts and an ARR target, but it’s a forward-looking pitch rather than a fresh earnings/regulatory catalyst.
MaxLinear’s infrastructure segment surged 35% sequentially and 136% YoY, with CEO guidance calling for a multi-year growth phase and 2026 profitability.
Near-term positive drift possible if Q2 results/guidance confirm the sequential ramp and revenue midpoint trajectory.
The piece relies on reported Q1 growth and stated Q2 guidance, but lacks specific new contract announcements or earnings surprise details.
Innodata said it secured a new Big Tech deal that could generate up to $51M in 2026 revenue and raised its forecast to 40% growth.
Upside bias as the market extrapolates the incremental $51M contribution into 2026 estimates and margin/retention expectations.
The article provides concrete deal size and forecast uplift, but the customer is unnamed and the story is framed as an investment thesis.
Market effects
Reinforces capex and supply-chain demand for AI infrastructure (power/data-center capacity, optical interconnect bandwidth, AI data engineering pipelines).
Iren’s stated European penetration and APAC focus could support regional capex expectations for AI data-center buildouts.
Hyperscaler contract language (Microsoft/Nvidia) signals continued global AI buildout spending and vendor scaling.
Counterpoint
These are “under-the-radar” stock picks; without disclosed margins, utilization assumptions, or contract execution milestones, upside may be overstated versus execution risk.
Key entities
- companyIren
AI data-center neocloud provider with Microsoft and Nvidia capacity deals and an ARR target.
- companyMaxLinear
Optical interconnect supplier showing sequential infrastructure growth and 2026 profitability positioning.
- companyInnodata
Data engineering firm securing a new Big Tech deal and raising 2026 revenue growth expectations.
