Wall Street's Biggest IREN Bull Hiked Price Target to $142 After $9.7B Microsoft AI Deal

Why It Matters

The deal positions IREN as a rare vertically integrated AI‑infrastructure provider, offering investors exposure to high‑margin AI cloud revenue growth and scalability with hyperscalers. It underscores the broader shift toward dedicated power assets for AI workloads, potentially reshaping the competitive landscape.

Summary

Wall Street analysts have sharply raised price targets for IREN after the bitcoin miner secured a $9.7 billion AI infrastructure deal with Microsoft to provide 200 MW of data‑center capacity. Cantor Fitzgerald’s Brett Knoblauch lifted his target to $142 from $100, Bernstein to $125 from $75, and Roth Capital to $94 from $82, implying over 100% upside from the current $67.75 price. The Microsoft pact could generate up to $2 billion in annual AI cloud revenue by 2027, adding to IREN’s existing $500 million base and leveraging its 2.9 GW owned‑power portfolio. IREN’s shares have surged 547% year‑to‑date, driven by the deal’s potential to expand capacity without reliance on co‑location partners.