Iren Ltd. (NASDAQ:IREN) is a top AI stock on Wall Street, upgraded to Buy with a $80.00 price target. Analysts predict a transformative year ahead, driven by a $9.7B Microsoft AI deal and 2GW dev pipeline. AI infrastructure trade remains a major investment theme for 2026.

Analyst Mike Colonnese sees IREN as the most leveraged exposure in their coverage universe, with a significant AI contract and a $9.7B deal with Microsoft. The stock’s correction presents an attractive opportunity for investors. Firm anticipates full monetization of the Microsoft deal by 2026.

IREN operates renewable energy-based data centers in Australia and Canada. While a strong investment, some AI stocks may offer greater upside potential. Investors seeking undervalued AI stocks can explore opportunities in the market. Firm analysts highlight IREN’s capacity for AI colocation growth.

Read more at Yahoo Finance: Microsoft AI Cloud Deal and 2GW Growth Path Drive Bull Case for IREN