Analysts See Over 100% Upside in IREN (IREN) Amid Growing Demand for AI-Linked Compute Infrastructure

IREN Limited (NASDAQ:IREN) is one of the 7 most oversold data center stocks to invest in.

Analysts See Over 100% Upside in IREN (IREN) Amid Growing Demand for AI-Linked Compute Infrastructure

Over 70% of covering analysts, as of April 1, 2026, remain bullish on IREN Ltd. (NASDAQ:IREN). At the same time, the consensus price target of $80 implies an upside of about 130% amid growing demand for AI-linked compute infrastructure.

Following IREN Limited’s (NASDAQ:IREN) most recent GPU purchases, H.C. Wainwright reaffirmed its “Buy” rating and $80 price target on March 5, 2026.

The investment firm stated that construction at its Childress and Mackenzie data center remains on schedule. It added that IREN Ltd. (NASDAQ:IREN)’s $3.5 billion hardware acquisition, completed before obtaining compute contracts, indicates robust underlying demand.

As IREN Limited (NASDAQ:IREN) remains focused on obtaining favorable financing for currently uncontracted hardware, the investment firm identified higher near-term dilution risk amid the company’s plans to potentially sell up to $6 billion in new shares. In the short term, this adds pressure, especially as capital intensity rises throughout the data center industry.

According to H.C. Wainwright, IREN Limited (NASDAQ:IREN)’s 2026 outlook turns less risky as a result of these developments, with management’s increased guidance bolstering confidence in expanding its AI Cloud division beyond its previous projections.

IREN Ltd (NASDAQ:IREN) is a technology company that operates high-performance, renewable energy-powered data centers specializing in Bitcoin mining and, increasingly, artificial intelligence (AI) cloud services. It provides infrastructure, including GPU-based computing, to support AI, machine learning, and high-performance computing (HPC) for large-scale clients.

While we acknowledge the risk and potential of IREN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than IREN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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