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IREN's Hype Train: All Aboard the Gravy Train?
So, IREN's stock price is soaring. Again. We're supposed to believe this is all thanks to some genius deal with Microsoft and Nvidia's GPUs? Give me a break.
The AI Gold Rush: Who's Getting Rich?
First, let's dissect this "blockbuster deal" – $9.7 billion for cloud services. Okay, sounds impressive. But what does it really mean? It means Microsoft is throwing money at IREN to get access to Nvidia's precious GB300 GPUs. And IREN, in turn, is lining Dell's pockets with $5.8 billion for the hardware.
It's like a tech money-laundering scheme. IREN buys the shovels (GPUs) and leases them to Microsoft so they can appear to be at the forefront of the AI gold rush. Who's really getting rich here? Not you, pal.
And don't even get me started on the "renewable energy-powered facility in Childress, Texas." Oh, how virtuous. Bet you anything that "renewable" claim is stretched thinner than my patience. They probably have a few solar panels on the roof while secretly siphoning power from the regular grid.
Bitcoin Miners Pivot: Desperation or Genius?
What's even funnier is the backstory. IREN was a Bitcoin miner. Now, suddenly, they're an "AI infrastructure provider." It's a pivot so sharp, it could cause whiplash.
Remember when everyone was losing their minds over Bitcoin? Now those same companies are scrambling to rebrand themselves as AI experts. It's pure desperation, fueled by the fear of being left behind.
Bernstein boosted IREN's price target to $125. "Outperform," they say. Analysts, man. They're like weather forecasters, except less accurate. I bet half of them don't even understand what a GPU does. Why Bernstein Just Boosted Its Price Target for Bitcoin Miner IREN
And Cipher Mining? They’re inking deals with Amazon and Google's Fluidstack. Everyone's suddenly buddy-buddy. It's like watching a bunch of rats fighting over the last piece of cheese.
Speaking of cheese, I could really go for a slice of that aged cheddar from Murray's right now... damn, that stuff is expensive. Where was I? Oh yeah, corporate greed.
The Real Question: Is This Sustainable?
Here's the thing that keeps me up at night: Is any of this sustainable? This whole AI hype train feels like the dot-com bubble 2.0. Everyone's throwing money at anything with the letters "A" and "I" in it, hoping to strike gold. But what happens when the hype dies down? What happens when the AI winter comes?
IREN's share price has risen 1,000% in the last six months. A thousand percent! That's not growth; that's a goddamn rocket ship. And what goes up must come down, right?
What's going to happen to the IREN stock price then? What happens to the CIFR stock? Or NBIS stock? Are these companies actually building something of value, or are they just riding the wave of investor FOMO?
IREN's average analyst target price was $69.50, but one idiot thinks it could go to $24 while another moron thinks it could hit $142. The standard deviation is $32.613. So, uh, basically, nobody has a clue.