IREN (IREN) Shares Jump Ahead of Upcoming Fiscal Earnings Release

IREN Limited (NASDAQ:IREN) is included in our list of the 11 Best Performing Stocks in the Last 12 Months.

IREN (IREN) Shares Jump 14.57% Ahead of Upcoming Fiscal Earnings Release

On January 27, 2026, IREN Limited (NASDAQ:IREN) recorded a 14.57% share price surge, closing at $59.99. The jump was driven by investor optimism surrounding AI expansion, ahead of the company’s fiscal earnings release scheduled for February 5, 2026. The company expects $3.4 billion in annualized revenue as it fulfills its target of scaling 140,000 GPUs.

Meanwhile, broader AI developments are reinforcing the investor momentum. A robust demand for AI infrastructure is signaled by Nvidia’s $2 billion investment in CoreWeave and Anthropic’s $15 billion fundraising round. Amid this backdrop, data center and high-performance computing operators, including IREN Limited (NASDAQ:IREN), remain key beneficiaries of these trends.

At the same time, analyst sentiment holds strong. On January 13, 2026, H.C. Wainwright double upgraded IREN Limited (NASDAQ:IREN) from ‘Sell’ to ‘Buy’ and raised its price target to $80. The firm’s bullish outlook stems from the company’s robust 2026 outlook, featuring a large AI contract with Microsoft and a 2 GW incremental development pipeline expected to be fully operational by 2027.

IREN Limited (NASDAQ:IREN), a renewable-powered, vertically integrated data center operator, advances Bitcoin, AI, and next-gen computing across the U.S. and Canada.

While we acknowledge the potential of IREN to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than IREN and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.