IREN Limited's stock fell sharply after reporting a $684 million loss, mainly due to non-cash write-downs from its Bitcoin mining hardware. Despite this, Bernstein analyst Gautam Chhugani set a high price target of $100, implying about 182% upside, based on IREN's transition to AI cloud infrastructure with strong contracts from Microsoft and NVIDIA. The company’s AI cloud revenue is growing rapidly, and management expects $4 billion in contracted annual recurring revenue by the end of 2026. The stock remains volatile as investors weigh the risks of execution delays and capital needs against the potential for significant growth in AI data center operations.
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IREN Limited reported a strong quarter with its AI cloud services revenue more than doubling quarter-over-quarter, driven by $2.8 billion in new AI cloud contracts. The company raised its annual recurring revenue guidance from $3.7 billion to over $4...
Blue Owl Capital has led a $2.4 billion financing deal for IREN Limited to fund the purchase of NVIDIA AI computing equipment, including Blackwell Ultra GPUs, for its Mackenzie data center in Canada. The financing includes a $1.2 billion senior secur...
IREN Limited reported a $638.8 million impairment on older Bitcoin mining equipment, causing its stock to drop 13% and triggering a selloff among AI data center peers like Applied Digital and TeraWulf, which fell around 7%. Despite strong revenue gro...
IREN announced $4 billion in annual recurring revenue (ARR) from AI cloud contracts, far exceeding its current revenue of $137.2 million for fiscal Q4. Despite this, shares dropped nearly 10% after the company reported a net loss of $684 million, inc...
