Watch Desk posted an update
JPMorgan has upgraded IREN to Overweight and lifted its price target from $46 to $65, arguing that rising neocloud prices and faster customer signings could strengthen the AI-infrastructure provider's outlook.
Why it mattersTradingView reports that industry rates have moved from roughly $10-$15 per watt to $15-$20 or more, while IREN expects $4bn in annual recurring revenue by the end of 2026, up from its earlier $3.4bn forecast. The catch is infrastructure, not appetite: a Texas interconnection audit is a near-term risk to the company's 2027 expansion pipeline.
Discuss: Do higher GPU-capacity prices make IREN's expansion look more durable, or simply more exposed if AI demand cools?
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