Summary
- I see IREN Limited as a speculative buy, driven by its pivot from crypto mining to AI data center compute, with a 10x ARR growth in this segment.
- IREN…
Summary
- I see IREN Limited as a speculative buy, driven by its pivot from crypto mining to AI data center compute, with a 10x ARR growth in this segment.
- IREN’s AI Cloud business targets $500M ARR by Q1 FY26, with significant GPU investments and strong contracted power capacity. At the end of 2024, ARR was only $32M.
- Near term, I believe risk is elevated: shares are overbought since early September, valuation is rich at ~154x P/E, and Q1 FY26 could spark profit-taking from short-term traders.
- I rate this stock as a buy for a 3-5 year horizon. Funding is secured for GPU expansion, with $875M convertible notes recently announced at an attractive conversion price premium.
SeventyFour/iStock via Getty Images
At the moment of writing this article, I am ultra bullish on two themes: anything-AI, and, I thought I would never in my life say it, Bitcoin (yikes!). Therefore, I recently tuned my screeners, and IREN Limited (
This article was written by
9K Followers
**Analyst’s Disclosure:**I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.