TLDR
- Iren Limited stock jumped 14.57% Tuesday, rebounding from Monday’s weakness on heavy trading activity
- Reports of Anthropic seeking $20 billion at $350 billion valuation fueled optimism across AI sector
- Analysts project 38% upside with $82.80 average price target despite recent quarterly earnings miss
- Shares have gained 60% since January 1 as AI infrastructure spending accelerates
- Record $150 billion raised by AI startups in 2025 supports continued sector momentum
Iren Limited delivered a strong 14.57% gain Tuesday, finishing at $59.99 after Monday’s pullback. Volume reached 54 million shares, running 25% higher than typical daily activity.
The surge came as news spread that Anthropic is looking to double its fundraising goal to $20 billion. The AI company reportedly seeks a $350 billion valuation with this expanded capital raise.
Monday saw shares dip when competitor CoreWeave revealed a $2 billion agreement with Nvidia. Tuesday’s rebound suggests investors remain committed to AI infrastructure operators.
AI startups pulled in a record $150 billion during 2025. This nearly matched the $172 billion raised through IPOs last year, even as IPO volume jumped 39% year-over-year.
Multiple Catalysts Drive Recent Gains
Iren has posted several rallies tied to AI sector developments. B. Riley analysts Nick Giles and Fedor Shabalin called for gains once AI sentiment improved. That thesis has proven accurate in recent trading sessions.
The stock climbed 13% earlier this month during CES 2026 in Las Vegas. Leading AI firms showcased new technology and products at the trade show, lifting the entire sector.
Another bounce followed TSMC’s fourth-quarter earnings report. The chip manufacturer revealed plans to boost capital expenditure from $41 billion in 2025 to a range of $52 billion to $56 billion in 2026.
These spending increases reflect ongoing investment in AI infrastructure. Iren operates data centers while also mining bitcoin, positioning it in two computing-heavy industries.
Wall Street Sees Further Upside
The stock has climbed 60% year-to-date despite missing recent earnings forecasts. The company posted a $0.34 per share loss versus analyst expectations of $0.14 profit.
Nine analysts rate the stock a Buy, two assign Hold ratings, and one recommends Sell. This translates to a “Moderate Buy” consensus rating across Wall Street.
The average price target stands at $82.80, pointing to 38% potential upside. Individual targets span from $39 to $94 depending on the analyst.
Bernstein selected Iren as its top AI pick for 2026. H.C. Wainwright analyst Mike Colonnese expects a “transformative year” for the company.
Colonnese highlights the recently signed $9.7 billion Microsoft partnership as a key catalyst. The company has not yet generated material revenue from this deal.
Financial Position Remains Solid
Revenue came in at $240.30 million for the most recent quarter, up 28.3% year-over-year. This fell slightly short of analyst projections of $244.60 million.
The company maintains healthy liquidity with a current ratio of 5.52. Debt-to-equity sits at 0.34, showing manageable leverage levels.
Iren’s beta of 4.25 indicates high volatility compared to the broader market. Institutional investors control roughly 41% of the company’s shares.
Roth Mkm assigned a $94 price target to the stock. Goldman Sachs began coverage in December with a neutral stance and $39 target. Macquarie lifted its target to $86 in October.
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