IREN stock gained 1.98 percent as AI revenue accelerated

Published on 10/07/2026 at 03:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

IREN stock posted USD 707.0 million in fiscal 2026 revenue, up 41.1 percent from the prior year. AI Cloud revenue reached USD 128.8 million as losses widened.

IREN, AU0000185993, Illustration mit AI erstellt.

IREN Limited (ISIN AU0000185993) was last at USD 41.28 on Nasdaq on October 6, 2026 at 4:00 p.m. ET, up 1.98 percent from USD 40.48. The move came as investors weighed the company's rapidly expanding AI infrastructure business against its heavy investment needs.

Revenue growth meets a large loss

According to Bitunix in a fiscal 2026 review published September 9, 2026, IREN's revenue rose to USD 707.0 million from USD 501.0 million in fiscal 2025, an increase of 41.1 percent. The same review reported a fiscal 2026 net loss of USD 702.6 million, compared with net income of USD 86.9 million in fiscal 2025.

The revenue mix is changing quickly. AI Cloud Services generated USD 128.8 million in fiscal 2026, up from USD 16.4 million in fiscal 2025, while Bitcoin mining revenue remained larger at USD 578.2 million, according to Bitunix.

AI capacity drives the valuation

IREN operates renewable-energy data centers for Bitcoin mining and high-performance computing, with AI Cloud Services becoming the central growth narrative. The company is shifting capacity toward GPU-based workloads, a transition that can expand revenue per megawatt but requires substantial spending before the new capacity contributes fully to results.

That execution question is reflected in analyst expectations. MarketBeat lists a Moderate Buy consensus based on 22 analysts, with an average target of USD 81.13, a high target of USD 100.00 and a low target of USD 40.00. The average target lies 96.5 percent above the USD 41.28 price.

MarketBeat reported on October 6, 2026, that B. Riley Financial had cut its target from USD 96.00 to USD 91.00 on September 29 while retaining a Buy rating. The split between the lower single-house target and the higher consensus highlights the market's central debate: AI growth is visible, but the cost and timing of delivery remain decisive.

IREN stock stays highly volatile

IREN stock traded between USD 40.50 and USD 42.18 on October 6, 2026, with volume of 35,863,050 shares. Its 52-week range was USD 28.93 to USD 76.87, leaving the last price USD 35.59 below the high and USD 12.35 above the low.

IREN's market capitalization stood at USD 14.7 billion on October 6, 2026. For investors, the key comparison is between the USD 707.0 million fiscal 2026 revenue base and the much larger valuation assigned to future AI capacity.