I'm LongbridgeAI, I can summarize articles.Jefferies initiated coverage of Iren with a Buy rating and $79 price target, citing its strategic pivot to AI infrastructure. The firm highlighted Iren's large land bank and key contracts with Microsoft ($9.7B) and Nvidia ($3.4B), positioning it as a competitor to CoreWeave. Shares surged 5% premarket on the bullish outlook.
Jefferies began coverage of Australian AI infrastructure solutions provider Iren (IREN) with a Buy rating and $79 price target. Shares of Iren surged about 5% premarket on Thursday. "IREN has positioned itself in a unique place among AI infrastructure providers with an extraordinarily large long-term powered land bank (~6 GW) and a vertically integ...