Movement Alert｜IREN Ltd Rises 5.08% in Regular Trading, JPMorgan Double Upgrade to Overweight Combined with Cloud Computing Sector Rally

Market Focus

Sep 19

On September 19, IREN Ltd rose 5.08% in regular trading, trading at $45.805/share, with turnover of approximately $1.053 billion.

On the news front, JPMorgan recently issued a rare double upgrade for IREN, moving its rating directly from Underweight to Overweight, while raising the price target from $46 to $65, reflecting renewed confidence in the company's AI cloud services transformation. The analyst consensus mean price target stands at $81.43, suggesting further upside from current levels.

Meanwhile, the cloud computing sector continued to strengthen after NEBIUS announced a full-scale GPU cloud service price increase of approximately 20% effective October 1, reinforcing the market's view that AI compute supply-demand dynamics remain tight. Sector peers including Oracle and Riot Platform rallied over 5%, while Amazon, Hut 8, and NEBIUS also posted gains exceeding 2%.

Additionally, IREN recently secured a $2.4 billion debt financing led by Blue Owl Capital to acquire NVIDIA Blackwell Ultra GPUs for its Canadian data center campus, and its AI cloud revenue of $70.5 million last quarter surpassed bitcoin mining revenue for the first time, marking a strategic inflection point.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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