IREN (NasdaqGS:IREN) Stock May Be Fully Priced On New AI Cloud Contracts

IREN stock has delivered a very large 3 year gain while the current valuation checks lean expensive, which raises questions about how much of the AI cloud story is already reflected in the share price. Recent AI contract wins and a rapid shift away from pure Bitcoin mining sit against a low value score and an overvalued read on market multiples. Over the past 3 years, IREN has returned roughly 5.6x. This is a very large move for investors to weigh against current expectations. Multi year AI...