What AI bubble is IREN in?

IREN Limited (IREN) is mapped to the Datacenter Power bubble on QuantAbundance. Classifier 2026-05-07: extended tier, corr 0.46 to datacenter-power centroid (29 obs, 2nd: nuclear-smr 0.428). is_primary_bubble=FALSE.

What sector is IREN in?

IREN Limited is classified under GICS Information Technology (IT Services).

What is IREN's last close price?

IREN last closed at $46.15 on 2026-09-24.

IREN

NASDAQNext earnings·Nov 5AnalystsStrong Buy·17+74%

IREN Limited

Information Technology · IT Services

$46.15last close

$46.02-1.9% · USD · funding +7% apr · trade ↗

-2.1%~252d

Price

-2.10% over 1Y

1 curated level

Thesis

as of 2026-09-23

Renewable-powered DCs pivoting to GPU cloud, anchored by ~$10B MSFT 5-yr contract. Sweetwater 1 (1.4GW Texas) energized 2026-05-01; Mirantis acquired 2026-05-05 ($625M all-stock, dilutive); GPU fleet ramp to 150K incl 50K B300s. Q3 FY26 prints AH 2026-05-07 with a high bar after Feb's revenue miss.

•2025-09 - ~$10B MSFT 5-year cloud contract signed (anchor customer; backlog pinned in stocks.contracted_backlog_usd_b)
•2026-05-01 - Sweetwater 1 (1.4GW Texas data center) energized - first phase of the path to 4.5GW+ grid-connected
•2026-05-05 - Mirantis acquired for $625M all-stock - adds AI cloud orchestration stack; direct dilution overhang on the float
•2026-05 - GPU fleet ramp target 150K incl. 50K NVIDIA B300s (path toward the $3.4B ARR target by year-end 2026)
•2026-05 - Cantor cut PT $82 → $61, kept Overweight. Sell-side avg PT $62.50 - spot has been running ABOVE consensus
•2026-05-07 - Q3 FY26 reports AH. Estimates: -$0.22 EPS (yfinance: -$0.26), $219.69M revenue (+43.8% YoY). Last Feb quarter was a brutal revenue miss ($184.69M vs $227.33M est) - that's what nuked the stock from $61 to $30
•Snapshot 2026-05-07: spot $56.85 (intra-week pull from $67.60 high), mcap ~$18.86B, P/S ~24.9x, fwd PE ~44.9x. Gross margin 68.1%, operating margin -45.8%. Cash $3.26B vs debt $3.84B, current ratio 4.96. Beta 4.18, avg vol ~34.7M, 52w range $6.76 - $76.87
•Setup tension: real catalyst stack (Sweetwater + Mirantis + 150K GPUs + $10B MSFT) priced INTO the parabola from $30 → $67 in 5 weeks, with spot now above sell-side consensus. Tonight's print needs a clean revenue beat plus AI-cloud guidance to justify the multi expansion; bear-case is recent revenue-miss history + Mirantis dilution overhang. Counter-case clean: a breakout above $77 (Oct gap top) faces zero overhead supply

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Analyze IREN· interactive tools

Bubbles· capital-flow co-movement

Themes· editorial groupings

Top correlated· 252d co-movement

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Frequently asked questions

Is IREN in LMBO?: Yes, Roundhill S&P SMID 60 ETF (LMBO) holds IREN with 2.46% (as of 2026-09-23).
What ETFs hold IREN?: IREN Limited (IREN) is held by LMBO (2.46%).
What AI bubble is IREN in?: IREN Limited (IREN) is mapped to the Datacenter Power bubble on QuantAbundance. Classifier 2026-05-07: extended tier, corr 0.46 to datacenter-power centroid (29 obs, 2nd: nuclear-smr 0.428). is_primary_bubble=FALSE.
What sector is IREN in?: IREN Limited is classified under GICS Information Technology (IT Services).
What is IREN's last close price?: IREN last closed at $46.15 on 2026-09-24.

IREN

Price

Thesis

Follow $IREN and the AI trade, free.

Analyze IREN· interactive tools

Bubbles· capital-flow co-movement

Themes· editorial groupings

Top correlated· 252d co-movement

Frequently asked questions

Related research· long-form analysis touching IREN

Recent news· high-signal only

Held by ETFs

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Facts