IREN (NasdaqGS:IREN) Q2 2026 Earnings call February 05, 2026 05:00 PM ET Speaker13Good day, and thank you for standing by. Welcome to IREN Q2 FY 2026 results. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you'll need to press star one one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star one one ag ...

Core Viewpoint - IREN Limited is expected to report significant revenue growth of 92.42% year-over-year for Q2 fiscal 2026, but faces a widening bottom-line loss, indicating deteriorating earnings quality compared to the previous year [1][7]. Financial Performance - The Zacks Consensus Estimate for Q2 fiscal 2026 revenues is $230.12 million, reflecting a substantial increase from the previous year [1]. - The consensus estimate for the bottom-line loss is 9 cents, which has widened by two cents over the past month, contrasting with earnings of 9 cents in the same quarter last year [1]. - Over the last four quarters, IREN has missed earnings expectations three times, with an average negative earnings surprise of 26.52% [2]. Earnings Expectations - IREN currently has an Earnings ESP of -39.29% and a Zacks Rank of 3, indicating a lower likelihood of an earnings beat this quarter [4][3]. - The company’s earnings quality is expected to weaken due to the absence of unrealized gains that previously inflated net income and EBITDA [9]. Operational Factors - IREN is expanding its GPU capacity from 23,000 to a targeted 140,000 GPUs by the end of 2026, which is expected to support revenue growth amid rising AI cloud demand [5]. - The company has a strong liquidity position with approximately $1.8 billion in cash, which helps sustain its Bitcoin mining operations despite power cost volatility [6]. Capital Expenditure and Strategy - IREN plans to invest approximately $5.8 billion in GPUs and related infrastructure, which may increase leverage and dilute shareholders [8]. - The company’s capital-intensive expansion strategy poses risks to financial flexibility and performance in the near term [7][17]. Competitive Landscape - IREN faces heightened competition in the AI cloud and HPC sectors from rapidly expanding peers like Applied Digital and TeraWulf, which may impact its growth objectives [16]. - Despite a strong liquidity position and operational momentum, the company’s premium valuation raises downside risk [17]. Stock Performance - IREN's shares have declined 1.5% over the past three months, underperforming the broader Finance sector, which returned 4.3% [10]. - The stock is currently considered overvalued, with a forward 12-month price/sales ratio of 8.04, significantly higher than the industry average of 3.03 [12].

CoreWeave, Inc. (NASDAQ:CRWV) is one of the AI Stocks in Focus on Wall Street. On January 26, Mizuho analyst Gregg Moskowitz raised the price target on the stock to $100.00 (from $92.00) while maintaining a “Neutral” rating. The firm is optimistic on CRWV long-term, seeing upside from software stack sales and improved confidence after $2B NVDA investment & 5GW build-out plans. However, risk/reward remains even in the short term. Mizuho discussed the recent expansion of relationship between CoreWeave and ...

Bitcoin miners expanding to high-performance computing (HPC) and AI entered Tuesday trading with mixed momentum, with standouts TeraWulf (NASDAQ: WULF) and Applied Digital (NASDAQ: APLD) posting gains of 10% week-over-week, while the broader sector struggled. Terawulf (NASDAQ: WULF) shares opened Tuesday at $14.65, up 10.07% over the last five trading sessions. Applied Digital (NASDAQ: APLD) began the day at $39.95, reflecting a 9.69% weekly gain. Core Scientific (NASDAQ: CORZ) also outperformed, enteri ...

CoreWeave Inc. (NASDAQ:CRWV) ranks among the 10 best new stocks to buy in Ray Dalio’s portfolio. On January 6, Truist Securities initiated coverage of CoreWeave Inc. (NASDAQ:CRWV) with a Hold rating and a $84 price target. According to the firm, the company continues to maintain a solid partnership with NVIDIA, which Truist considers critical to CoreWeave’s business since it provides access to GPUs. This coincides with CoreWeave’s plans to embed NVIDIA Rubin technology into its AI cloud platform, with deli ...

Core View - CoreWeave stock experienced significant volatility in 2025, peaking at a 367% increase post-IPO in March before a 51% decline from its 52-week high in June [1][2] Company Overview - CoreWeave operates as a neocloud company, providing specialized AI data center infrastructure powered by GPUs, catering to AI companies, enterprises, and cloud computing giants [3] - The company is positioned in a market with high demand for data center capacity, which is expected to face a shortage of approximately 10 gigawatts annually in the U.S. through 2028, according to Goldman Sachs [4] Capacity and Growth - CoreWeave is rapidly filling its data center capacity, operating 41 dedicated AI data centers with 590 megawatts of active power capacity as of Q3 2025, and plans to add at least 1 gigawatt of capacity in the next one to two years, which is already sold to customers [5] - The company's revenue backlog reached nearly $56 billion at the end of Q3 2025, growing almost fourfold year-over-year, with revenue increasing by 134% to $1.36 billion during the same period [6] Valuation and Future Potential - CoreWeave's current valuation suggests it is undervalued given its strong growth trajectory, with expectations for revenue to more than double in 2026, indicating potential for significant stock price appreciation [7]

Core Viewpoint - CoreWeave, Inc. announced the integration of NVIDIA Rubin technology into its AI cloud platform, enhancing its offerings for customers focused on agentic AI, reasoning, and large-scale inference workloads [1] Group 1: Company Developments - CoreWeave is expected to be one of the first cloud providers to implement the NVIDIA Rubin platform in the second half of 2026, which will provide customers with increased flexibility and choice [1]

Core Industry Insights - Investors are increasingly recognizing the potential of AI capabilities in various companies, with notable stock gains in the AI sector, such as Palantir's increase of over 32-fold from its 2022 low [1] - The AI market is projected to grow at a compound annual growth rate (CAGR) of 31% through 2033, indicating that the current AI investment trend is just beginning [1] Company Highlights 1. Advanced Micro Devices (AMD) - AMD has seen a remarkable increase of over 13,000% from its 2015 lows and is positioned to potentially catch up to Nvidia in the AI accelerator market with its upcoming MI450 accelerator [4] - The company forecasts a long-term revenue CAGR of 30%, with a 60% CAGR specifically for its data center segment that designs AI accelerators [5] - AMD's stock has risen over 70% in the past year, with a current forward P/E ratio of 53, making it an attractive option for investors despite a high P/E ratio of 105 [7] 2. CoreWeave - CoreWeave is emerging as a leading AI cloud platform, specifically tailored for AI workloads, and has built a competitive advantage by working with Nvidia's GPUs [8] - The company reported a 204% year-over-year revenue increase to nearly $3.6 billion in the first nine months of 2025, although costs surged by 263% during the same period [9] - Despite a net loss of $771 million in the first three quarters of 2025, down from $857 million the previous year, the stock is currently trading at a significant discount, with a price-to-sales (P/S) ratio just above 7 [10][12] 3. Upstart Holdings - Upstart is leveraging AI for loan evaluations, presenting a disruptive opportunity in a market dominated by Fair Isaac's FICO score since 1989, with a potential market opportunity of $1 trillion [13] - The company's AI model utilizes over 2,500 variables and can make 91% of assessments without human intervention, potentially approving 101% more applicants than traditional methods in 2024 [14] - Upstart's revenue for the first nine months of 2025 was $685 million, a 57% increase from the previous year, and it returned to profitability with earnings of $35 million during the same period [15][17]

Core Insights - The AI infrastructure market is projected to grow from $60.23 billion in 2025 to $499.33 billion by 2034, with a CAGR of 26.6% [2] - Companies like CoreWeave (CRWV) and Nebius Group N.V. (NBIS) are positioned as key players in the AI infrastructure space, focusing on GPU-based cloud services [1][3] CoreWeave (CRWV) - CRWV has experienced a 134% year-over-year revenue increase in Q3, driven by strong demand for its AI cloud platform and a robust backlog of $55.6 billion [5][7] - The company has secured significant contracts, including a multi-year deal with Meta worth up to $14.2 billion and an expanded partnership with OpenAI totaling approximately $22.4 billion [9] - Despite supply chain challenges affecting revenue guidance, CRWV remains confident in its operational agility and ability to scale infrastructure [4][10] Nebius Group N.V. (NBIS) - NBIS has raised its capital expenditure (CapEx) guidance to around $5 billion to expand its power capacity, but has faced delays that have lowered its 2025 revenue outlook to $500–$550 million [7][12][13] - The company has secured major contracts with Meta and Microsoft, valued between $3 billion and $19.4 billion, enhancing its revenue visibility [15] - NBIS is focused on expanding its data center capacity and enhancing its enterprise portfolio, with ambitious annual recurring revenue (ARR) goals of $900 million–$1.1 billion by the end of 2025 [13][15] Market Performance - In the past month, CRWV's stock has declined by 0.9%, while NBIS has seen a more significant drop of 12.6% [17] - Valuation metrics indicate that NBIS may be overvalued with a Price/Book ratio of 4.59X compared to CRWV's 9.63X, suggesting CRWV may be a more attractive investment option [18] Investment Outlook - Both companies are experiencing rapid growth, but CRWV currently leads in revenue generation and customer backlog, while NBIS is in a phase of aggressive expansion [22] - CRWV is viewed as a better investment option based on its stronger market position and growth potential, reflected in its Zacks Rank of 3 (Hold) compared to NBIS's 4 (Sell) [23]

Core Company Overview - CoreWeave is a neocloud company that provides dedicated AI data centers powered by Nvidia GPUs, serving a diverse customer base including Meta Platforms, Microsoft, OpenAI, and Google [2][8] - The company is experiencing significant demand for its AI data center capacity, leading to remarkable revenue growth, with $3.6 billion generated in the first three quarters of 2025, up from $1.17 billion in the same period last year [1][7] Revenue and Growth Projections - CoreWeave is projected to end 2025 with $5.1 billion in revenue and is expected to sustain growth into 2026, with a revenue backlog that has increased nearly fourfold to $55.6 billion [7][9] - Analysts anticipate that CoreWeave's revenue will more than double in 2026, with a potential stock price increase of 76%, based on a 12-month median price target of $122 [8][6] Market Environment and Capacity Expansion - The company ended Q3 2025 with 590 megawatts (MW) of active data center capacity, an increase of 120 MW from Q2, and plans to add at least 1 gigawatt (GW) of capacity over the next 12 to 24 months [10][11] - CoreWeave operates in a highly supply-constrained environment, where demand for its AI cloud platform exceeds available capacity, positioning it favorably for continued growth [11][12] Stock Market Context - The S&P 500 index's bull market is three years old, suggesting a potential continuation into 2026, which could positively impact tech stocks, including CoreWeave [3][4] - The Nasdaq Composite index has surged 32% since April and is expected to maintain its rally into 2026, providing a conducive environment for CoreWeave's stock performance [4][5]