Shares of IREN have seen a major surge, jumping nearly 13% in one day. This sudden rise is catching the attention of investors, who are now debating whether this is a sign of long-term strength or just a short-term boost driven by hype.

One big reason for the excitement is IREN’s recent $9.7 billion deal with Microsoft. This five-year agreement centers around cloud services and high-performance computing, especially in artificial intelligence (AI). As part of the deal, IREN will use powerful Nvidia GPUs to support Microsoft’s cloud infrastructure. This move confirms IREN’s growing capabilities in building and managing cutting-edge tech systems.

IREN has plans to increase its number of GPUs from 23,000 to a massive 140,000 units by the end of 2026. If successful, this expansion could bring in about $3.4 billion in yearly revenue. At the same time, Nvidia recently revealed its new “Vera Rubin” chip architecture at CES 2026, which strengthens the demand for the type of advanced cooling and energy systems that IREN is developing.

Crypto Market Boosting Momentum

The recent rally in IREN’s stock also has a lot to do with rising cryptocurrency prices. Bitcoin is nearing $95,000 and Ethereum is trading above $3,200. Although IREN is shifting focus toward AI and cloud computing, it still moves closely with the crypto market. Other crypto-related companies like Cipher Mining and Marathon Digital are also seeing gains, showing that investor interest in the sector is picking up again.

Should You Buy or Sell IREN?

Experts are divided on what to do next. Many analysts are optimistic, pointing to strong future revenue from the Microsoft partnership and another major deal with Dell. The average analyst price target is around $69.20, which would mean more than 40% upside from current levels.

However, not everyone agrees. Goldman Sachs is more cautious, giving the stock a “Neutral” rating and a lower price target of $39. They worry that IREN might struggle to deliver on its big promises, especially when it comes to building out its infrastructure at such a rapid pace.

After closing at $48.24, IREN saw a slight dip of -2.20% in pre-market trading. All eyes are now on February 11, 2026, when IREN will report its next quarterly results. Investors want to see if the company’s pivot to AI data centers is actually leading to strong financial performance.

Key Takeaways:
– IREN stock surged nearly 13% thanks to crypto gains and a huge AI deal with Microsoft.
– The company plans to scale GPU capacity to 140,000 by 2026, aiming for $3.4 billion in annual revenue.
– Nvidia’s new chips add momentum to IREN’s data center plans.
– Analysts are split: some see big upside, others worry about execution risks.
– Upcoming earnings on February 11 could be a key test of IREN’s new direction.

Keywords: IREN stock, Microsoft cloud deal, Nvidia GPUs, AI data centers, Bitcoin rally, Ethereum price, cryptocurrency market, high-performance computing, CES 2026, Vera Rubin architecture, GPU expansion, stock price forecast, investor sentiment.