IREN's Microsoft Deal: A Game-Changer for AI Infrastructure
Update: 2025-11-10
Description
Canaccord Genuity hails IRENs Microsoft deal as a game-changer, reaffirming buy rating and raising price target to $70. Despite IRENs shares dropping, analysts highlight the deals potential, including a 20% prepayment and projected 32% IRR. IRENs upcoming 2-gigawatt Sweetwater One site is seen as the next big catalyst, with Canaccord increasing its valuation to $32 per share. IRENs Q3 report showed strong growth, with revenue up 355% YoY, emphasizing its scale, low-cost power access, and integrated operations.
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