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.

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.

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