Sep. 13 at 5:27 AM
$IREN Revenue hit
$187.3M, earnings technically “beat,” & management is busy rebranding by strapping on ~10,900
$NVDA Nvidia GPUs. They’re already touting a
$200–250M annualized AI cloud revenue run-rate. Margins & execution are still theory. Risks: energy costs, the corpse of the mining business still on the books, & the possibility that cloud revenue scales about as gracefully as their old hash rigs.
#RKT Rocket Companies bought Redfin, which means collaging real estate traffic with an equally interest-rate-sensitive mortgage business. Analysts are already hyping rate cuts. BofA upgraded the stock, hiking the target from
$21 to
$24. The case is simple: falling rates juice both purchase & refinance volumes. The Mr. Cooper deal comes with the usual promise of half a billion in “synergies.” Add in
$200M in Redfin synergy fairy dust & an 11% bump to 2026 EPS estimates.
Notes on Rocket: The Redfin purchase. Fifty million monthly visitors now feed into a mortgage machine.
