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Jim Cramer reverses on IREN & Nebius, saying 'massive demand' for AI makes past doubts and his CoreWeave preference 'not matter.'
IREN Limited (NASDAQ:IREN) is one of the 12 Best Performing Stocks in the Last 3 Months. On October 22, B. Riley increased its price target on IREN Limited (NASDAQ:IREN) from $29 to $74 and reiterated a Buy rating as the research firm updated its estimates for high-performance computing companies.
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Why Iren Stock Surged Today
Iren › Shares of Iren (NASDAQ: IREN) jumped more than 11% on Monday after the rapidly expanding artificial intelligence (AI) infrastructure provider announced a $9.7 billion cloud contract with Microsoft.
AI infrastructure providers are partnering with tech giants and cloud leaders as AI projects secure the power and hardware they need.
The bitcoin miner turned AI infrastructure play received three price target raises following yesterday's news, including from Bernstein, which lifted to $125.
Two analysts bumped their price targets higher on the company. Actually, they more than doubled their levels for the scorching-hot stock. It's rare when a stock receives a more-than 100% price-target increase; it's rarer still when this occurs twice on the ...
IREN (NASDAQ:IREN) and Cipher Mining (NASDAQ:CIFR) burst into the spotlight on Monday with multi-billion-dollar deals that are reshaping the AI infrastructure arms race. As demand for AI-driven computing skyrockets,