Key Stats for IREN Stock
- Price change for IREN stock in the last 6 months: -18%
- $IREN Stock Price as of Oct. 9: $35
- 52-Week High: $77
- $IREN Stock Price Target: $78
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What Happened?
IREN (IREN) shares rose on Monday, after The Information reported that the data center operator signed a multi-year deal for AI cloud services with Anthropic.
Anthropic already uses big cloud providers like Amazon and Google, and adding IREN lets it lock in large GPU clusters.
These chips run AI models, which gives Anthropic more flexibility and lower costs.
It also supports Anthropic’s growth ahead of its planned IPO, given the company wants to avoid a computing-power shortage.
IREN has its own power supply and data centers, and renting from a company like that can help Anthropic keep research and operating costs down.
The report says buyers of Anthropic shares will focus on its losses and gross margin. Cheaper computing could help both.
The deal also shows IREN can build and run high-performance AI computing centers. It also points to strong third-party demand for AI infrastructure.
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What the Market Is Telling Us About IREN Stock
On its August earnings call, IREN said it had signed a new multiyear contract with a leading frontier AI lab.
The company’s numbers show why demand matters. IREN has $4 billion of annual recurring revenue contracted for 2026 capacity.
About $1 billion of that is running today and management said 2026 capacity is largely sold out.
Pricing is rising too. Recent three-year contracts are above $20 million per megawatt of IT load, and talks are now near $25 million.
Customer prepayments are covering 45% to 55% of GPU costs.
IREN stock also carries risk. The company guided spending to $25 billion to $30 billion for fiscal 2027.
It reported a net loss of $684 million last quarter, mostly from non-cash charges tied to retiring its mining hardware.
Quarterly revenue was $137.2 million. IREN stock depends on bringing GPUs online on time and on raising more funding.
For now, IREN stock is being lifted by proof that top AI buyers want its capacity. Execution and financing will decide whether IREN stock can hold gains.
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So what is IREN stock actually worth?
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
