Key Highlights

  • Cango (NYSE:CANG) rose about 61% in a month to near USD 3.56 as its EcoHash unit began GPU compute services on September 3, 2026, but the company named no customers and reported a USD 81.6 million net loss.
  • Z Squared (NASDAQ:ZSQR) gained about 60% to near USD 4.70, with most of the move coming in two sessions on September 24 and 28 that no company release explains, and it has no tenant for its 8.0 MW campus.
  • Rackspace (NASDAQ:RXT) rose about 19% to near USD 3.77 after joining the NVIDIA Cloud Partner Program on September 10, 2026, while Revenue is flat at USD 670 million and a securities class action is pending.
  • SCHMID Group (NASDAQ:SHMD) rose about 28% to near USD 4.21 after reports on September 25 that chipmakers are testing glass substrates, though it cut its 2026 EBITDA Margin guidance to 6% to 9%.

Cango (NYSE:CANG): Mining Meets GPUs

Cango (NYSE:CANG) is a Bitcoin miner trying to become an AI compute provider. Cango, which executed a 10-for-1 share consolidation effective July 20, 2026, has been shifting from Bitcoin Mining toward AI compute. On September 3, 2026 EcoHash said it powered on an initial batch of GPU servers in modular containerized units at the 50 MW Georgia facility, with scope to expand beyond 3 MW. The release listed GPU cloud platforms and AI research labs as prospective customers but gave no contracts, GPU counts or revenue targets. The same day the NYSE confirmed Cango had regained compliance with its minimum share price rule after the 30-day average closed above USD 1.00, which removed a delisting overhang. That removes one source of forced selling. Mining at a cash cost of USD 73,313 per coin leaves little margin if prices soften, and cash of USD 10.1 million is small against the losses. GPU leasing depends on signing real customers, which the company has not yet disclosed. Published analyst notes show Jones initiating coverage with a Buy rating and a USD 4 target around late September. The stock hit a 52-week low of USD 1.36 and a high of USD 21.00, so Volatility is extreme.

Z Squared (NASDAQ:ZSQR): Powered Land

Z Squared (NASDAQ:ZSQR) buys energized sites for AI and Data Center tenants. Z Squared says it buys existing powered sites and leases them to AI and data center users as a triple-net landlord, meaning tenants carry property taxes, insurance and maintenance. On September 18, 2026 chief executive David Halabu described the model on two investor podcasts, and shares ended that day up 5.91%. The Union County Campus in Arkansas has Entergy service of up to about 8.0 MW with a stated path to 150 MW. Power availability is the scarce input for data centers, which is why energized land commands attention. The September 9 Acquisition cost no cash and no debt, though the release gave no tenant or Lease terms. Z Squared has no disclosed tenant, so revenue from the 8.0 MW is unconfirmed, and expanding to 150 MW needs more power agreements and capital. The 52-week range of USD 2.11 to USD 21.41 shows how far the shares have fallen from their peak. Equity issuance would be a likely funding route and would dilute holders. The next Earnings date is estimated at November 20, 2026. Watch for a lease announcement, Utility upgrade timelines and any financing filing.

Rackspace (NASDAQ:RXT): AI Cloud Pitch

Rackspace (NASDAQ:RXT) is a managed cloud provider repositioning around AI. Rackspace is repositioning as a managed provider of private and public cloud with an AI layer. On August 25, 2026 it launched Rackspace Cloud, a managed multitenant platform on VMware Cloud Foundation 9.1, starting in Dallas with North Virginia and Chicago planned, and shares rose 8.97%. On September 10 it joined the NVIDIA Cloud Partner Program and unveiled Blackwell-based infrastructure for regulated and sovereign customers, working with Palantir. Earlier in August it hired Pranav Nambiar to lead sovereign AI compute and Dr. Chetan Gupta as chief AI officer. Closes then rose from USD 3.13 on September 10 to USD 4.20 on September 24. Palantir Foundry and AIP are part of the sovereign AI stack. Revenue is flat, losses are widening and the stock trades far below its 52-week high of USD 8.60 despite the rebound from a low of USD 0.393. The class action could bring legal costs and further headlines. The AI infrastructure plan needs Capital and customers, and Rackspace's Balance Sheet carries debt, though the figure was not verified here. Market Value is near USD 981 million, so Rackspace is a sub-USD 10 stock but not a penny cap.

SCHMID Group (NASDAQ:SHMD): Glass Substrates

SCHMID Group (NASDAQ:SHMD) sells equipment for advanced chip packaging. Chipmakers are studying glass as a replacement for organic material in advanced chip packaging, because it is flatter and can support finer wiring for high bandwidth memory and AI processors. On September 25, 2026 reports said leading manufacturers are investigating the approach, and SCHMID shares jumped almost 20%. SCHMID, a German equipment maker listed on Nasdaq, said its chief sales officer confirmed it supplies production equipment and services for glass core substrates. The reports named no customers, and SCHMID gave no order values, so the revenue impact is unquantified. Volume on September 25 reached 13.1 million shares, against about 0.5 million the day before. Reports are not orders, and equipment suppliers often wait for pilot lines before volume purchases. The stock gave back some gains, closing at USD 4.49 on October 7 and trading near USD 4.21 on October 8 on the screener, as sentiment cooled. Glass substrates remain at an investigation stage, and adoption timelines and supplier choices could take years. Margin guidance has already been cut, and the company is loss-making. No earnings date is published. Watch for named customers, order announcements and updates on the high-volume Manufacturing timeline for glass substrates.

Where Things Stand

No single name clearly wins, because each rally rests on an announcement of capability, not on disclosed customers or earnings. Cango (NYSE:CANG) has the largest gain and the weakest balance sheet. Z Squared (NASDAQ:ZSQR) has land and power but no named tenant. Rackspace (NASDAQ:RXT) has revenue, an NVIDIA tie and a lawsuit. SCHMID Group (NASDAQ:SHMD) has a named technology but unnamed customers. Named contracts or orders would separate the winners, and all four can reverse quickly if attention fades or financing is needed.