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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
05/09/2026

IREN Stock Soars 76% as Bernstein Sets $100 Target on $3.4B NVIDIA Deal

What happened: Bernstein analysts set a $100 price target on IREN with 76% implied upside following the company's five-year, $3.

IREN Stock Soars 76% as Bernstein Sets $100 Target on $3.4B NVIDIA Deal

What happened: Bernstein analysts set a $100 price target on IREN with 76% implied upside following the company's five-year, $3.4 billion AI cloud services contract with NVIDIA. The deal includes NVIDIA's right to purchase up to 30 million IREN shares at $70 each, representing a potential $2.1 billion equity investment. IREN will deploy 60MW at its Childress, Texas campus using NVIDIA Blackwell platforms.

Why it matters: IREN's pivot from Bitcoin mining to AI infrastructure positions the company for $3.7 billion in AI cloud annual recurring revenue by 2026, targeting 150,000 GPUs. The stock has gained 813% over the past year as the AI data center narrative overtakes crypto mining fundamentals.

Source: The Block