IREN stock fell 6.27 percent on October 7

Published on 10/08/2026 at 03:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

IREN stock follows fiscal 2026 AI Cloud revenue of USD 128.8 million, up from USD 16.4 million. A 20-analyst Buy consensus targets USD 78.14.

IREN, AU0000185993, Illustration mit AI erstellt.

IREN Limited (ISIN AU0000185993) stock fell 6.27 percent to USD 38.69 on Nasdaq at 4:00 p.m. EDT on October 7, 2026. The price stood below the session high of USD 40.50 and above the low of USD 38.34, while the 52-week range ran from USD 28.93 to USD 76.87. That places the stock 49.7 percent below its 52-week high.

AI revenue changes the mix

IREN's fiscal 2026 results show the scale of its transition from Bitcoin mining toward AI infrastructure. According to Startup Fortune on October 5, 2026, AI Cloud revenue reached USD 128.8 million, compared with USD 16.4 million in fiscal 2025.

The same fiscal-year review said fourth-quarter AI Cloud revenue reached USD 70.5 million, ahead of Bitcoin mining revenue of USD 66.7 million. That comparison matters because it shows AI services becoming a larger operating contributor before the company completes its planned capacity expansion.

Consensus stays above the price

According to Stock Analysis on October 7, 2026, 20 analysts gave IREN a consensus rating of Buy and an average price target of USD 78.14. The target lies 101.96 percent above the USD 38.69 price, making the gap between the market quotation and the published consensus the central valuation signal in the current setup.

That optimism comes with a financing and execution burden. IREN's website describes 810 megawatts of operational data-center capacity and 2,100 megawatts under construction across North America, indicating that delivery progress must keep pace with the company's AI revenue ambitions.

IREN stock remains below its yearly high

IREN was last at USD 38.69 on Nasdaq on October 7, 2026, with a market capitalization of USD 15.3 billion. The stock's position between its USD 28.93 52-week low and USD 76.87 high leaves capacity delivery, AI revenue conversion and funding discipline as the main figures for investors to track.