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Markets Insider

IREN shares jump more than 7% to $44.68 as analysts see 69% upside on AI cloud growth

AI Market Summary
IREN shares rose over 7% as analysts reiterated Buy ratings, citing rapid momentum in its AI cloud segment despite a decline in total revenue. FY AI cloud revenue surged 687% YoY to $128.8m, with Q4 at $70.5m (+110% YoY). Disclosed multi-year contract value and sold-out 2026 capacity reinforce visibility, supporting near-term sentiment around AI infrastructure and cloud exposure.
Impact level
● Low
Affected assets
NCSKIREN2USD/USDT-0.45%
AI Insight · NCSKIREN2USD/USDTAI Insight
▲ Bullish
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Shares of Australian AI cloud firm IREN rose more than 7% on Friday to close at $44.68. Analysts reiterated Buy ratings and set an average price target of $75.67, implying about 69% upside from current levels. In fiscal Q4 2026, AI cloud revenue totaled $70.5 million, up 110% year over year, while full-year AI cloud revenue reached $128.8 million, up 687%. Citizens analyst Gregory Miller kept an $80 target, citing continued acceleration in the company’s AI cloud business.
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