Freedom: $3.4B NVIDIA Contract Could Drive IREN Shares Up Over 30%

Freedom analysts have published an investment idea on IREN Limited (IREN), setting a target price of $71.8 per share against a current level of approximately $53.9. This represents 33.2% upside potential, with a Buy recommendation. IREN is engaged in developing data centers and cloud infrastructure for artificial intelligence. The company is transitioning from a cryptocurrency mining infrastructure operator to a provider of AI computing capacity, attracting strong investor interest.

The key event was the signing of a five-year contract with NVIDIA worth approximately $3.4 billion. Under the agreement, IREN will provide computing capacity for NVIDIA’s internal AI projects. Freedom analysts believe the contract confirms strong demand for the company’s infrastructure from one of the world’s leading AI market players and could serve as a catalyst for further share revaluation.

An additional growth driver is a deal with Dell to supply NVIDIA Blackwell systems valued at around $1.6 billion. The company has also secured $3.65 billion in financing for the project, significantly reducing implementation and capital shortfall risks. Following the launch of new capacity in early 2027, IREN expects to increase its annual recurring revenue from $3.7 billion to $4.4 billion.

Long-term growth will be driven by the expansion of energy infrastructure. The company recently announced the construction of a new 800 MW data center in South Australia. Freedom analysts note that access to power is becoming a key competitive advantage in the AI infrastructure market, where demand for computing capacity continues to grow rapidly.

The technical picture remains favorable. Shares are trading above both the 50-day and 200-day moving averages, maintaining a medium-term upward trend following a correction from recent highs.

According to Freedom analysts, the combination of the major contract with NVIDIA, secured financing, purchase of state-of-the-art Blackwell systems, and an expanded energy base makes IREN one of the most interesting beneficiaries of the ongoing AI boom.

Not an individual investment recommendation.