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IREN Ltd. (IREN) Rallies to New 52-Week High on Higher PT, AI Boom

Thu, Sep 11, 2025, 8:14 AM 2 min read

We recently published AI Frenzy: 10 Stocks Crushing the Market, 6 Climb to Fresh Highs. IREN Ltd. (NASDAQ:IREN) is one of the top performers on Wednesday.

IREN Ltd. extended its winning streak to a fourth consecutive day on Wednesday to reach another all-time high as investors took path from an investment firm’s price target upgrade, alongside continued optimism for the artificial intelligence sector.

During the session, IREN Ltd. (NASDAQ:IREN) climbed to its fresh 52-week peak of $33.64 before ending the day just 1 cent lower. Still, the stock was up by 11.39 percent.

IREN Ltd. (IREN) Rallies to New 52-Week High on Higher PT, AI Boom

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In a market report, capital markets firm BTIG raised its price target for IREN Ltd. (NASDAQ:IREN) to $32 from $22 previously, while maintaining a “buy” recommendation for the stock.

The upgrade followed optimism from the company’s move to expand its GPU portfolio in July with the acquisition of 9,000 Nvidia GPUs, which brought its total ownership to 10,900 units. The expansion represented a fivefold increase from only 2,000 GPUs deployed in early 2024.

While focused on Bitcoin mining, IREN Ltd. (NASDAQ:IREN) is also expanding its AI business through the expansion of digital infrastructure to support the sector’s needs.

In August alone, IREN Ltd. (NASDAQ:IREN) announced earlier this week that revenues from its AI cloud business grew by 4.34 percent to $2.4 million last month from $2.3 million in July.

While we acknowledge the potential of IREN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.