On September 23, 2025, Darren Aftahi from Roth Capital set a new price target of $82 for IREN (NASDAQ:IREN). At the time, the stock was priced at $41.70, indicating a potential increase of about 96.67%. IREN Limited is a company that has made significant strides in the AI cloud sector, recently expanding its capacity with a substantial investment.
IREN has expanded its AI cloud capacity by acquiring 12,400 additional GPUs, bringing its total to 23,000. This expansion cost $674 million and includes a mix of NVIDIA and AMD GPUs. The company aims for an annualized run-rate revenue (ARR) of $500 million from its AI Cloud by the first quarter of fiscal 2026. This strategic move is expected to bolster its financial performance.
In a recent development, IREN purchased 4,200 Blackwell B200 GPUs from NVIDIA for their Prince George campus. The Blackwell architecture is known for its enhanced AI compute performance and energy efficiency, offering cost and energy savings. This investment aligns with IREN's strategy to improve operational efficiency and reduce costs.
IREN's stock has shown remarkable performance, with a year-to-date increase of 314.5%, outperforming sector and industry averages. Currently, the stock is priced at $41.81, reflecting a slight decrease of 0.21% or $0.09. The stock has fluctuated between $41.32 and $44.25 today, with $44.25 being its highest price over the past year.
The company has a market capitalization of approximately $8.97 billion, indicating its significant presence in the market. Today's trading volume for IREN is 20.69 million shares, reflecting strong investor interest. Despite the recent price fluctuations, the company's strategic investments in AI cloud capacity position it well for future growth.
