IREN Ltd. shares rose 3.95% to $43.22 Wednesday after ERCOT (Texas grid operator) disclosed more than 5 gigawatts of conditional power capacity for AI deployments. The announcement reinforced the case for IREN’s 2-GW Sweetwater Hub, which was conditionally included in ERCOT’s Batch Zero process, as Bitcoin miners increasingly shift toward AI infrastructure. JPMorgan upgraded IREN to Overweight and lifted its price forecast to $65 from $46, while BTIG maintained a Buy rating and an $80 forecast. IREN is developing a neocloud (cloud provider built for specialized computing) business with NVIDIA, although technical signals remained mixed: the relative strength index (momentum indicator) was 53.50, near-term averages were supportive, and the 50-day average remained below the 200-day average after an August death cross.