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Benzinga
Benzinga
Business
Henry Khederian

IREN Stock Is Trending Tuesday: What's Going On?

IREN IREN Ltd Nvidia AMD Artificial Intelligence
IREN Limited

Following Monday’s surge, IREN Ltd (NASDAQ:IREN) shares are trading marginally higher Tuesday morning. The stock jumped Monday after the company announced an expansion of its artificial intelligence cloud capacity and issued new revenue guidance.

What To Know: IREN has doubled its AI cloud to 23,000 GPUs with the purchase of 7,100 Nvidia B300s, 4,200 Nvidia B200s, and 1,100 AMD MI350Xs for approximately $674 million. The company said the move comes in response to a growing trend of customers contracting for capacity ahead of delivery.

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