IREN Ltd. stock surged over 14% recently due to strong institutional interest in its AI cloud infrastructure. Analyst Gautam Chhugani from Bernstein reaffirmed a 'Buy' rating and a $100 price target, suggesting a 143% upside from the current $41.21 price. The company’s AI cloud offers much higher revenue per megawatt compared to traditional colocation, supported by major deals with Microsoft and Nvidia. Analysts see strong earnings visibility and expect AI cloud revenue to reach $4 billion, making IREN a promising buy amid the AI industry shift.
Shares of neocloud companies, which provide GPU access for AI services, fell sharply after CoreWeave's debt yields surged to 15%, raising concerns about a private credit bubble. CoreWeave's stock dropped 15%, with other related firms like Nebius Grou...
IREN has secured a $4 billion contracted annual recurring revenue (ARR) and is leveraging reusable infrastructure to potentially increase profitability in future GPU cycles. Customer prepayments cover about 45%-55% of GPU capital expenditures, while ...
