Key Points
Shares of Iren Limited (NASDAQ: IREN) surged nearly 20% on Monday following a significant revision to its 2026 revenue target, now projected to exceed $4 billion, up from $3.7 billion. This revision reflects ongoing growth in AI infrastructure investments, despite market concerns about a potential bubble.
As of 11:45 a.m. ET, Iren’s stock was still up 16.7%, supported by new long-term cloud service agreements with major customers including Nvidia and Microsoft. The company reports that contracted pricing continues to strengthen, indicating strong demand for its data center capacity.
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