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 in annual recurring revenue contracts, including major deals with Microsoft and NVIDIA. Analysts see an 82% upside potential with a price target of $84.29, betting on IREN's ability to scale AI infrastructure globally. Risks include high debt and execution challenges, but strong contracts and cash flow support a bullish outlook.
IREN's strategic shift to AI cloud services is unfolding as the stock trades at USD 43.82 on Pluang, down 5.05% as of Sep 26, 2026 01:41 WIB, well below its 52-week high of USD 76.41. Despite the recent dip, investor interest remains strong with 87% buy orders and a typical hold time of 26 days. This contrasts with CIFR, another tech stock, which is priced at USD 17.56, down 2.98%, with more selling activity at 58%.
