Iren Shares Jump 13% After Upgrade; Anthropic Deal Could Add $15B
IREN•Iren shares surged 13.1% following an analyst upgrade raising its price target by nearly 50%. Earlier, shares climbed on reports the company is vying for a $15 billion, 1.4 GW Australian data-center deal with AI firm Anthropic.
1. Analyst Upgrade Sparks 13.1% Share Rally
On July 7, Iren shares surged 13.1% following an analyst upgrade that lifted the price target by nearly 50%, reflecting heightened confidence in margin expansion and free cash flow growth.
2. Reported $15B Anthropic Australian Data Center Deal
Earlier that day, shares climbed on reports Iren is in talks to supply up to 1.4 GW of data-center capacity in Australia for AI firm Anthropic, in a deal potentially valued at $15 billion over its term.
3. Market Reaction and Outlook
Investors have bid up the stock on both the upgraded valuation and the prospective Anthropic agreement, prompting analysts to revisit earnings forecasts and stakeholders to monitor deal confirmation and its impact on future revenue.
