Jim Chanos warns IREN is taking "all the risk" in Microsoft AI deal, claiming it will "decrease EPS" with returns below its cost of capital.

Iren › Shares of Iren (NASDAQ: IREN) jumped more than 11% on Monday after the rapidly expanding artificial intelligence (AI) infrastructure provider announced a $9.7 billion cloud contract with Microsoft.

IREN Limited (NASDAQ:IREN) is one of the 12 Best Performing Stocks in the Last 3 Months. On October 22, B. Riley increased its price target on IREN Limited (NASDAQ:IREN) from $29 to $74 and reiterated a Buy rating as the research firm updated its estimates for high-performance computing companies.

Jim Cramer reverses on IREN & Nebius, saying 'massive demand' for AI makes past doubts and his CoreWeave preference 'not matter.'

According to TipRanks, Chhugani is a top 100 analyst with an average return of 92.3% and a 70.27% success rate. Chhugani covers the Financial sector, focusing on stocks such as Coinbase Global, IREN, and Robinhood.

Crypto miners have been turning themselves into AI data centers that can secure big deals with tech giants like Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) and Meta Platforms (NASDAQ: META). IREN (NASDAQ: IREN) is one of the best-positioned crypto miners to capitalize on the AI boom.

AI infrastructure providers are partnering with tech giants and cloud leaders as AI projects secure the power and hardware they need.