• IREN Ltd is trading at $59.61 (+2.59%) in live premarket action today, following Jefferies' initiation of coverage with a Buy rating and a $79 price target.
  • Analysts highlight IREN's unique position among AI infrastructure providers with a large long-term powered land bank and a vertically integrated GPU cloud approach.
  • Landmark contracts, including a $9.7 billion Microsoft lease and a $3.4 billion AI Cloud contract with Nvidia, are expected to position IREN to deliver $3.1 billion in Annual Recurring Revenue (ARR).