Core Viewpoint - Prominent investor Eric Jackson has labeled IREN Ltd. a "100x wealth machine" due to its strategic shift from Bitcoin mining to supporting the AI sector [1][2]. Company Positioning - IREN is positioned as a crucial infrastructure provider in the growing AI economy, with Jackson emphasizing that the real value lies in companies supplying the necessary computing power rather than just AI model creators [2][3]. - The company has successfully transformed its data centers into "AI cloud factories," leveraging high-demand Nvidia GPUs [3]. Investment Thesis - Jackson projects a significant price increase for IREN, forecasting a rise from $9 to $900 per share, viewing this as a long-term investment rather than a short-term trade [3][4]. - He anticipates IREN achieving over $500 million in annual recurring revenue by early 2026, supported by a substantial hardware investment of 23,000 GPUs [4]. Underlying Strengths - IREN possesses 2,900 MW of power capacity, which Jackson argues is a foundational strength that the market is currently overlooking [5]. - The focus on AI applications often neglects the importance of the companies that provide the necessary power, which is where IREN stands out [5]. Stock Performance - IREN's stock experienced a decline of 2.58% to $60.09 per share, but it has seen a remarkable increase of 474.47% year-to-date and 700.13% over the past year [5].

Core Insights - IREN Limited (IREN) shares experienced a significant increase of 6.8% to $61.68, with a notable trading volume and a total gain of 120.5% over the past four weeks [1][2] Company Overview - IREN's vertically integrated model allows full ownership of data centers, computing hardware, electrical infrastructure, and land, providing operational control, cost efficiency, and flexibility compared to competitors [2] - The company utilizes 100% renewable energy sources, enhancing sustainability and community support [2] Recent Developments - IREN announced multi-year cloud service contracts with leading AI firms for NVIDIA Blackwell GPU deployments, aiming to expand AI Cloud capacity [3] - The company has 23,000 GPUs in operation or on order, targeting over $500 million in annualized run-rate revenue (ARR) by Q1 2026, with contracts for 11,000 GPUs secured, valued at approximately $225 million ARR by the end of 2025 [3] Financial Performance Expectations - IREN is expected to report quarterly earnings of $0.17 per share, reflecting a year-over-year increase of 177.3%, with revenues projected at $236.71 million, up 335.2% from the previous year [4] - The consensus EPS estimate has been revised 18% lower over the last 30 days, indicating a potential negative trend in earnings estimate revisions [5] Industry Context - IREN Limited is part of the Zacks Financial - Miscellaneous Services industry, which includes other companies like SoFi Technologies, Inc. (SOFI) [6] - SOFI's consensus EPS estimate has increased by 1.7% over the past month, with a year-over-year change of 60%, and it currently holds a Zacks Rank of 2 (Buy) [7]

We recently published 10 Hot Stocks Sparking Buying Frenzy. IREN Ltd. (NASDAQ:IREN) is one of the best performers on Tuesday. IREN Ltd. extended its winning streak to a third straight day on Tuesday to hit a new all-time high, as investor sentiment was fueled by newly inked cloud supply deals, while hinting at more to come. In intra-day trading, IREN Ltd. (NASDAQ:IREN) soared to another all-time high of $63.40 before paring gains to end the day just up by 6.81 percent at $61.68 apiece. IREN (IREN) Touch ...

智通财经APP获悉，周三，IREN Ltd(IREN.US)股价走低，截至发稿，该股跌超6.4%，报57.7美元。消 息面上，该公司宣布其有意根据市场及其他条件，向认为符合资格的机构买家进行私人配售，计划发行 总额为8.75亿美元的2031年到期可转换高级票据。IREN Ltd主要从事与数据中心及加密货币挖矿相关的 业务。公司运营可再生能源驱动的数据中心基础设施，拥有电力、冷却设施、硬件部署等一体化架构。 该股股价在今年飞涨，今年至今累积涨幅超490%。 ...

Core Viewpoint - IREN Limited plans to offer $875 million in convertible senior notes due 2031, with an option for an additional $125 million, aimed at qualified institutional buyers under Rule 144A of the Securities Act [1] Summary by Sections Description of Notes - The notes will be senior, unsecured obligations of IREN, accruing interest payable semi-annually and maturing on July 1, 2031, with conversion rights for noteholders under specific conditions [2] - IREN will have the option to redeem the notes starting January 8, 2029, if certain conditions regarding the share price are met [3] Corporate Events and Repurchase Rights - In the event of a "fundamental change," noteholders may require IREN to repurchase their notes for cash at the principal amount plus accrued interest [4] Use of Proceeds - A portion of the net proceeds will fund capped call transactions, with the remainder allocated for general corporate purposes and working capital [5] Capped Call Transactions - IREN plans to enter capped call transactions to mitigate potential dilution from note conversions, with adjustments based on market conditions [6][7] - The capped call transactions will be cash settled until IREN receives shareholder approval for share repurchases [7] Market Activity and Impact - Initial hedging activities related to the capped call transactions may influence the market price of IREN's ordinary shares [9] - Option counterparties may adjust their hedge positions, potentially affecting the market price of IREN's shares and the conversion process for noteholders [10] Company Overview - IREN is a leading developer and operator of next-generation data centers, focusing on Bitcoin mining, AI cloud services, and utilizing 100% renewable energy [15]

Core Insights - IREN Limited has announced multi-year agreements with major AI companies deploying NVIDIA's Blackwell GPUs, indicating strong demand for its services [1][2] - The AI Cloud division is projected to exceed $500 million in annual recurring revenue by 2026, supported by a fleet of 23,000 GPUs [2][5] - The company has secured commitments for approximately 11,000 GPUs, translating to about $225 million in annualized cloud revenue expected by the end of 2025 [2] Contract Details - The NVIDIA Blackwell GPUs are leased on two-year contracts, allowing IREN to recover its investment within that period [3] - IREN is actively hosting demonstrations and technical evaluations with potential clients beyond the initial GPU deployment [3] Infrastructure Expansion - IREN's facilities in British Columbia and the under-construction Horizon 1 and Horizon 2 in Texas will support over 100,000 GPUs upon completion [4] - The company has a secured energy portfolio of 2,910 megawatts, providing capacity for large-scale AI infrastructure growth [4][5] Market Position - IREN shares were down 3.36% at $55.81, close to its 52-week high of $58.28, reflecting significant volatility and investor interest [6][7] - With a market cap of $15.18 billion and a P/E ratio over 148, the company is positioned in the high-growth software segment, despite not offering dividends [7]

Core Viewpoint - IREN Limited has signed additional multi-year cloud service contracts with several AI companies, involving the deployment of NVIDIA's Blackwell series GPUs, which has positively impacted its stock price in pre-market trading [1] Group 1: Company Developments - IREN has expanded its AI cloud service capacity and is on track to deploy a total of 23,000 GPUs by the end of Q1 2026, with an expected annual operating revenue exceeding $500 million [1] - Out of the 23,000 GPUs, 11,000 have secured customer contracts, corresponding to an annual recurring revenue (ARR) of approximately $225 million, with these GPUs expected to be operational by the end of 2025 [1] - Two weeks prior, IREN announced an investment of approximately $670 million to procure GPUs from NVIDIA and AMD to accelerate its AI cloud business growth [1] Group 2: Financial Impact - The recent GPU procurement includes 7,100 NVIDIA B300 GPUs, 4,200 NVIDIA B200 GPUs, and 1,100 AMD MI350X GPUs, totaling around $674 million, which has increased the total installed GPU capacity to approximately 23,000 units [1] - Following the announcement of the GPU procurement, IREN's stock price surged over 10% [1]

Core Viewpoint - IREN Ltd. (NASDAQ:IREN) has experienced significant stock performance due to increased investor interest in artificial intelligence (AI) stocks, particularly following a supply deal between OpenAI and Advanced Micro Devices Inc. (AMD) [1][2][4]. Group 1: Stock Performance - IREN Ltd. reached a record high of $58.28 during intra-day trading, ultimately closing up 14.45% at $57.75 [2]. - The stock's surge is attributed to the broader trend of investment in AI, driven by aggressive deal-making in the sector [1][4]. Group 2: Strategic Developments - AMD announced a definitive agreement to supply OpenAI with 6 gigawatts of Instinct GPUs, with the first gigawatt expected to be deployed in the second half of 2026 [3]. - OpenAI's expansion efforts have created optimism for companies like IREN Ltd., which is transitioning from Bitcoin mining to AI services by expanding its cloud business [4]. Group 3: Analyst Ratings - IREN Ltd. received an "overweight" rating and a new price target of $75 from Bernstein, representing a 275% increase from the previous target of $20 [4][5]. - The upgrade highlights IREN's unique approach in developing its own AI infrastructure, contrasting with competitors that are pursuing capital-light co-location deals [5].

Core Insights - IREN Limited is on track to achieve over $500 million in annualized run-rate revenue (ARR) from its AI Cloud services by the end of Q1 2026, supported by 23,000 NVIDIA Blackwell GPUs [1][9] - The company has secured contracts for 11,000 of the 23,000 GPUs, translating to approximately $225 million in AI Cloud ARR expected to be operational by the end of 2025 [2][9] - IREN is expanding its AI Cloud capacity and engaging with customers for further GPU deployments, with a total capacity potential exceeding 100,000 GPUs across its facilities [3][4] Company Operations - IREN operates next-generation data centers powered by 100% renewable energy, strategically located in regions rich in renewable resources and fiber connectivity [5] - The company has a secured power and land portfolio of 2,910 MW across more than 2,000 acres in the U.S. and Canada, with additional multi-gigawatt development plans [6] - IREN's data centers support three verticals: Bitcoin mining, AI Cloud services, and AI data centers, with a focus on high-performance computing applications [6] Future Outlook - The company is positioned to meet the increasing demand for AI compute, with nearly 3 GW of grid-connected power and ongoing construction of data centers [4] - IREN plans to transition to a standardized reporting process consistent with industry peers, discontinuing monthly operating updates [4]

Group 1 - IREN Limited's stock has increased by over 370% since the beginning of 2025, with market capitalization rising from approximately $2.2 billion to about $12.8 billion [1] - The author of the article is a seasoned consulting specialist at a leading Central Asian bank, bringing five years of experience in delivering strategic insights and analysis [1] - Novo Capital was created to discuss investment ideas and gain "alpha" through out-of-consensus information [1] Group 2 - The analyst has no current stock or derivative positions in any mentioned companies but may initiate a long position in IREN within the next 72 hours [1]