IREN’s radical AI pivot: Is this 43% plunge a buying opportunity or a value trap?

Investing.com and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Investing.com — IREN Ltd (NASDAQGS:IREN) has become the center of a fierce debate on Wall Street. Trading near $24.80 per share after a 40% plunge over the past month, the stock sits at fresh 52-week lows even as Wall Street analysts maintain an average price target of $77.81, implying a massive 214% upside. That bullishness stems from IREN's rapid pivot from Bitcoin mining into high-density AI data center infrastructure, highlighted by multi-billion-dollar contracts with Microsoft and Anthropic. Yet behind the projected growth sits an expensive transition: $7.8 billion in debt, an aggressive $25 billion to $30 billion capital expenditure plan.