JPMorgan upgraded IREN from Underweight to Overweight, projecting the company will generate $24 billion in annual revenue by 2030, a significant rise from its $707 million revenue in fiscal 2026. This forecast is based on IREN's transition from Bitcoin mining to a vertically integrated AI cloud provider with substantial data center capacity and high-margin contracts. IREN's AI Cloud Services revenue grew rapidly, surpassing Bitcoin mining revenue, supported by major contracts with Microsoft and NVIDIA. While the company faces high capital expenditures and recent losses, JPMorgan's outlook assumes continued successful execution and contract fulfillment, making IREN a notable long-term growth prospect in AI infrastructure.
As of Sep 26, 2026 23:11 WIB, IREN shares are trading at USD 44.12, down 4.39% for the day, with a market cap of $17.39 billion on Pluang. Despite JPMorgan's bullish outlook on IREN's future revenue growth, current investor sentiment shows 87% buy orders on the platform. Meanwhile, major partners Microsoft and Nvidia are trading at USD 516.17 (+3.66%) and USD 225.07 (+0.22%) respectively, highlighting strong activity in the technology sector.
IREN has transformed its business by writing off $450 million in Bitcoin mining hardware and focusing on AI cloud services, doubling AI cloud revenue to $70.5 million in FY2026. Despite a GAAP net loss of $684 million, the company secured $4 billion ...
IREN has secured over 5 gigawatts of power capacity with major contracts totaling $13.1 billion from Microsoft and NVIDIA, positioning it as a key player in AI infrastructure. Despite this, the company reported a $684 million net loss in Q4 with reve...
