Iren Shares Drop on AI Spending Concerns and Analyst Price Target Cut
Iren (NASDAQ:IREN) fell 8.11% on April 28, 2026, due to a Bernstein price-target cut and renewed concerns about AI infrastructure spending. The S&P 500 and Nasdaq Composite also declined, with peers like CoreWeave and Nebius Group experiencing significant losses. The market is reassessing AI-related investments following reports of OpenAI missing revenue and user goals.
Topics: AI infrastructure analyst price target cut Iren (IREN) market sentiment stock price decline