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Cantor Fitzgerald Raises IREN Price Target to $77 Amid Nvidia Partnership

Guavy AI Editorial Team
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NVDA
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Cantor Fitzgerald has raised its price target for IREN Ltd. (NASDAQ:IREN) to $77 from $61, citing a key partnership with Nvidia as a major factor behind the increase.

The stock has delivered an impressive 725% return over the past year and is currently trading at $61.36 with a market capitalization of $20.26 billion.

IREN's partnership with Nvidia includes a $3.4 billion cloud deal, which is expected to drive growth in the company's AI Cloud business.

The analyst expects IREN to have 480 megawatts commissioned by the end of 2026 and 1,210 megawatts commissioned by the end of 2027, as part of its aggressive expansion plans.

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