The Latest Breaking News from IREN Ltd

Shares of IREN Ltd. (NASDAQ: IREN) jumped sharply on Monday after the company announced a landmark five-year, $9.7 billion contract with Microsoft Corp. to deliver advanced AI cloud infrastructure powered by NVIDIA GB300 GPUs at its massive Texas campus.

Shares of IREN Ltd (NASDAQ:IREN) are trading higher Monday morning, continuing a rise that has seen the stock climb over 500% year-to-date. Investor enthusiasm is largely tied to the company’s aggressive pivot to becoming a key AI utility, leveraging its renewable energy-powered data centers.

Shares of IREN Ltd (NASDAQ:IREN) surged to an all-time high of $58.28 on Monday, continuing a marked run that has seen the stock climb over 400% year-to-date. Here’s what investors need to know.

Shares of IREN Ltd (NASDAQ: IREN) are falling sharply Friday after JP Morgan downgraded the stock from Neutral to Underweight. The downgrade is injecting caution into a stock that has been on a meteoric rise, putting the brakes on a rally that has exceeded 500% over the past six months.

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.

Shares of crypto miners Applied Digital Corp (NASDAQ:APLD), Galaxy Digital Inc (NASDAQ:GLXY) and IREN Ltd (NASDAQ:IREN) all closed higher Thursday in sympathy with Core Scientific Inc (NASDAQ:CORZ). Core Scientific’s stock gained on reports that AI cloud firm CoreWeave Inc (NASDAQ:CRWV) is in discussions to acquire it.