On June 15, IREN Ltd rose 5.17% overnight, trading at $62.81/share, with turnover of $5.21 million.

On the news front, B.Riley recently raised its target price on IREN from $88 to $96 while maintaining a Buy rating, expressing optimism toward the company's AI computing power transformation prospects. Additionally, the CEO recently signaled further computing capacity expansion plans, reinforcing market confidence in the company's strategic pivot from cryptocurrency mining to AI cloud infrastructure.

IREN had previously declined sharply from its early June highs after completing a $3.65 billion investment-grade GPU financing, which triggered concerns over elevated financial leverage. The stock has since entered an oversold recovery channel. Fundamental catalysts including a $9.7 billion computing power agreement with Microsoft and up to $2.1 billion in investment from NVIDIA continue to provide underlying support for the share price. The current rebound extends the prior recovery trend as selling pressure dissipates.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)