IREN Watch posted an update
Bernstein has rated IREN Outperform with a $55 share-price target, arguing that its owned power assets and customer prepayments give the data-centre operator room to expand. Yahoo Finance reports that IREN has 5.8 gigawatts of secured power, with Bernstein estimating about 1.4GW of approved capacity available to sell.
Why it mattersThe note says IREN is targeting 480 megawatts of cloud capacity by February 2027. Bernstein also puts the company’s contracted annualised recurring revenue at $4.7bn, though $700m of that is NVIDIA capacity due in early 2027. These are analyst estimates and targets, not delivered capacity or guaranteed revenue. For AI infrastructure, the useful question is whether power, GPUs and financing arrive together.
Discuss: How much weight should investors give an analyst’s capacity forecast before it is earning revenue?
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