Microsoft and Nvidia's major orders provide a boost! JPMorgan is bullish on IREN (IREN.US), which pivoted from mining to AI infrastructure, targeting $24 billion in revenue, and upgrades it by multiple notches to "Overweight"

Zhito Finance APP has learned that IREN (IREN.US), which has successfully transformed from a Bitcoin mining company into a large-scale AI data center operator, recently received a strongly bullish stance from Wall Street financial giant JPMorgan. IREN's investment narrative is shifting from "Bitcoin prices determine mining farm profits" to "power resources, computing power delivery, and long-term contracts jointly determine growth potential." JPMorgan's analyst team upgraded the institution's stock rating for IREN by two notches at once, from the most negative rating of "Underweight" directly to "Overweight," skipping past the relatively neutral "Neutral" rating, while raising the target price from $46 to $65. Relative to the closing price of $44.13 on September 25, this implies approximately 47.3% potential upside over the next 12 months.