IREN Stock Falls Nearly 4% as Morningstar Cuts Fair Value Estimate to $37 on Financing Risks

IREN Limited (NASDAQ: IREN) shares fell nearly 4% to $29.23 in Friday's early morning trading after Morningstar lowered its valuation estimate for the AI cloud provider to $37 from $43, citing concerns over rising borrowing costs and competition for capital. The nearly 14% valuation reduction followed Morningstar's warning that specialized AI cloud providers, known as neoclouds, could face higher financing costs as large technology companies raise capital for their own infrastructure expansion. Visit Website

Source: The Crypto Basic