Iren Limited shares experienced a significant rebound on Tuesday, climbing 14.57% to close at $59.99. This surge came after the stock faced a decline on Monday, which followed a major deal between CoreWeave and Nvidia. The uptick in Iren”s stock price reflects a renewed investor enthusiasm surrounding artificial intelligence (AI) funding, particularly in light of reports that Anthropic is aiming to double its fundraising target to $20 billion, seeking a valuation of $350 billion.
The broader landscape for AI investments remains robust, with startups in the sector raising a record $150 billion in 2025, nearly matching the $172 billion amassed through initial public offerings (IPOs) last year. Analysts have retained a positive outlook on Iren, estimating an average price target of $82.80, indicating a potential upside of approximately 38% from its current levels.
This year has seen Iren”s shares surge nearly 60%, even as the company has faced challenges, including a recent earnings report that did not meet analysts” expectations. The stock traded with heavy volume on Tuesday, with around 54 million shares exchanged, surpassing its usual trading activity by about 25%.
The recovery in Iren”s stock can be attributed to the rising optimism surrounding AI companies, especially following the announcements at the CES 2026 trade show in Las Vegas, where major players in the AI field unveiled new products. Prior to its recent dip, Iren had also seen a notable rise of 13% during the event, highlighting the strong market sentiment.
Confidence in the sector was further bolstered by TSMC, which reported encouraging fourth-quarter results that underscored robust chip demand. The world”s leading contract chip manufacturer has announced plans to increase its capital expenditures significantly for the coming years, signaling ongoing investment in AI infrastructure.
Iren finds itself at the intersection of AI and cryptocurrency, operating data centers while also engaging in bitcoin mining. The company”s stock has been buoyed by broader AI-related trends, despite a recent earnings miss that revealed a loss of $0.34 per share compared to the expected profit of $0.14.
Wall Street analysts remain optimistic about Iren”s prospects. The consensus rating is categorized as a “Moderate Buy,” supported by nine buy ratings, two holds, and one sell rating among twelve analysts surveyed in the past three months. Price targets vary, with some analysts suggesting targets as high as $94 and others as low as $39.
Recent developments have seen Bernstein naming Iren as its top AI pick for the year, while H.C. Wainwright”s analyst, Mike Colonnese, emphasized the potential for substantial revenue stemming from Iren”s $9.7 billion agreement with Microsoft, which has yet to yield significant financial returns.
In its latest quarter, Iren reported revenues of $240.30 million, reflecting a year-over-year increase of 28.3%, although this figure fell short of the $244.60 million anticipated by analysts. The company”s strong liquidity is underscored by a current ratio of 5.52 and a low debt-to-equity ratio of 0.34, further contributing to its appeal among institutional investors, who hold about 41% of its shares.
With a stock beta of 4.25 indicating high volatility relative to the market, Iren continues to attract attention as it navigates the ever-changing landscape of AI and blockchain technologies.
