By Ghazal Ahmed
Publication Date: 2026-01-17 17:35:00
Iren Ltd. (NASDAQ:IREN) is one of the Trending AI Stocks on Wall Street. On January 13, H.C. Wainwright analyst Mike Colonnese double upgraded the stock from Sell to Buy with a price target of $80.00. Firm analysts see a transformative year ahead for IREN, with $9.7B Microsoft AI deal and 2GW dev pipeline serving as key drivers.
Firm analysts anticipate the AI infrastructure trade to continue serving as a major investment theme in 2o26. Factors driving this momentum include hyperscaler capex budgets, accelerating demand for near-term access to large-scale power, and positive investor sentiment.
Colonnese believes that IREN offers the most leveraged exposure across its coverage universe since it has already secured one of the largest AI contracts to date among BTC miners with a blue-chip counterparty. This, he noted, isn’t fully priced into shares.
Meanwhile, IREN has also secured a $9.7B, five-year AI cloud deal with Microsoft which the firm anticipates to be fully…
