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Bitcoin Miner IREN's AI Pivot Earns $100 Price Target at Cantor Fitzgerald

Hot-handed bitcoin miner turned AI infrastructure play IREN (IREN) continues to have major upside, according to Wall Street brokerage Cantor Fitzgerald. "Over the past several months, IREN has heavily leaned into its AI Cloud Services segment," wrote analyst Brett Knoblauch. "This is a business that we believe will ultimately closely resemble that of CoreWeave (CRWV)." "While shares have done well over the expectation that IREN will entirely focus on its GPU cloud," Knoblauch continued, "we continue to b ...