IREN Ltd (NASDAQ:IREN) is one of the 10 Stocks That Can Still Skyrocket On The Neo Cloud Boom.
On June 3, IREN Ltd (NASDAQ:IREN) reported that it had signed a transmission connection agreement for an 800 megawatt data center in South Australia
This is the company’s first data center in Australia and shows how the firm is aggressively expanding its data center footprint. The news comes after it already collaborated with Dell to acquire Blackwell GPU systems for its data centers. This isn’t the only partnership the company has announced recently.
On May 11, JP Morgan raised the firm’s target price on IREN Ltd (NASDAQ:IREN) to $46 from $39 and reiterated an Underweight rating on the stock. The upward price target revision came after the company announced a partnership with NVIDIA on May 7. As part of the partnership, both companies plan to accelerate the deployment of next-generation AI infrastructure.