Added to YB: 2026-08-31
Pitch date: 2026-08-27
IREN [bullish]
IREN Limited
-5.83%
current return
Author Info
No bio for this author
Company Info
IREN Limited operates as a vertically integrated AI cloud services platform in Australia and Canada. It develops, owns, and operate data centers, including the associated land, grid connections, and substations, as well as buildings and cooling.
Market Cap
$14.5B
Pitch Price
$37.65
Price Target
N/A
Dividend
N/A
EV/EBITDA
466.65
P/E
-19.67
EV/Sales
22.97
Sector
Software
Category
growth
IREN Limited: Rebuild
IREN (added to position): The position is being increased toward 5% on the view that rapid deployment, low-cost power and owned land can make IREN the best overall candidate across either an AI-consolidation or proliferation future, though Nebius is seen as stronger in proliferation. A five-year, $9.7B Microsoft contract supports a $4B+ ARR target already 85% covered by multi-year agreements. The payoff depends on delivering the remaining GPUs and funding growth without accelerating dilution.
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