Iren’s stock experienced a recent 27% drop over three months, driven by concerns over capital expenditures needed to scale its AI data center operations. However, JPMorgan Chase & Co. upgraded the company from underweight to overweight, raising its price target from $46 to $65—a 50% increase from Monday’s closing price. The upgrade reflects optimism around Iren’s strategic partnership with Nvidia, a deal valued at over $3 billion for a five-year AI cloud transaction, and a shift toward higher pricing power in its neocloud operations.
JPMorgan Raises Iren Price Target 50% Amid AI Cloud Growth
Stock declines persist despite bank upgrades and Nvidia partnership boosting AI infrastructure provider’s outlook.
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Priya Anand · Equities & Earnings Desk · 15 Sept 2026 · 03:44 · 1 min read
This article was produced with AI assistance and edited by a Finance Review Daily journalist.
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Priya Anand
Equities & Earnings Desk
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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