Shares in Iren Limited (IREN), the Sydney-based AI cloud capacity provider, rallied 12.97% to $48.24 per share on Monday. This came as several tech leaders at the CES 2026 international trade show in Las Vegas, Nevada, rolled out key updates on their artificial intelligence efforts.
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Iren’s stock ended 2025 more than 300% higher, with Wall Street seeing the neocloud company adding another 100% gain over the next 12 months. Analysts have said they expect IREN stock to exit its recent rut if investor sentiment on AI stocks improves this year.
Nvidia, AMD, and Intel Shine on Day 1 of CES 2026
During the key global event, AI chip heavyweight Nvidia (NVDA) launched the highly anticipated Rubin, its next-generation unified, multiple-chip computing platform. The world’s most valuable company also rolled out new tools and platforms tied to AI, robotics, and self-driving systems — a move Wall Street’s top analysts say shows that the demand for AI computing is still very strong.
Beyond Nvidia, American chipmakers Advanced Micro Devices (AMD) (AMD) and Intel (INTC) also revealed key updates at the event. On its part, AMD introduced the Zen 5–powered Ryzen AI Embedded processors and showcased the MI440X chips for smaller, private data centres, showing that it is diversifying beyond serving hyperscalers.
Intel at the event rolled out its much-awaited Panther Lake AI chip for laptops called “Intel Core Ultra Series 3.” The chipmaker also plans to release a handheld gaming device that uses the same new generation of its AI-focused chip to vastly enhance gaming performance.
Rival CoreWeave to Deploy Nvidia’s Rubin
Shares in Iren’s New Jersey-based competitor CoreWeave
Is IREN Stock a Good Buy?
Across Wall Street, Iren Limited’s shares continue to carry a Moderate Buy consensus rating from analysts. This breaks down to eight Buys, two Holds, and two Sells issued by 12 analysts over the past three months.
In addition, the average IREN price target of $80.40 suggests about 67% upside from current trading levels.
