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Pathikrit Bose

2 Major Catalysts Are Lifting IREN Stock. How to Play It Here.

IREN Nvidia Microsoft Bitcoin CoreWeave Nebius

Another day, another round of upside for a neocloud. Following CoreWeave's (CRWV) and Nebius' (NBIS) time in the sun, Sydney-based Iren Limited (IREN) saw its shares end the week about 9% higher after it revealed that its first cloud deployment for Microsoft (MSFT) was complete, and it has also received the Exemplar Cloud status from Nvidia (NVDA).

Iren's Horizon 1 is the first of four deployments from the company to Microsoft under a five-year, $9.7 billion contract inked last year in November. Here, Nvidia validated Iren's GB300 NVL72 deployment and granted it the Exemplar Cloud status. Iren joins CoreWeave, Nebius, AWS, Azure, and Oracle Cloud Infrastructure in receiving this recognition.

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