Bernstein sets $100 price target on IREN after company secured $3.4B NVIDIA AI cloud deal and potential $2.1B strategic equity investment

Bernstein raised its price target on IREN to $100 after the company disclosed a $3.4 billion AI cloud agreement with NVIDIA and an option for NVIDIA to make a potential $2.1 billion strategic equity investment in IREN. The catalyst was presented as a major validation of IREN’s AI infrastructure business and its ability to monetize its power and data-center footprint for high-demand AI workloads.

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