IREN shares jump 30% on AI cloud contracts and strong demand
Shares of IREN surged about 30% in a single day, marking the company's strongest rally since February 2023. Co‑CEO Daniel Roberts told investors that demand for the firm’s AI computing capacity exceeds what IREN can currently build, reinforcing confidence in its AI cloud business.
The company has signed roughly $2.8 billion in AI cloud contracts with Microsoft, Nvidia, Perplexity and Figure AI. Those agreements cover about 85% of IREN’s targeted $4 billion annualized revenue run‑rate for 2026, and pre‑payments under the deals will fund roughly 45% of the required GPU infrastructure costs. Prior to the rally, IREN’s stock had fallen more than 30% over the previous month. Trading activity on the surge day reached about 73 million shares, well above the average daily volume of roughly 53 million shares.
The surge reflects investor optimism that the growing backlog of contracted AI revenue will translate into sustainable cash flow as IREN expands its data‑center capacity toward a 1.2‑gigawatt target by 2027.
Entities: Cantor Fitzgerald · Daniel Roberts · IREN Limited · Iren · Microsoft · Nvidia · Onity Group Inc. · Perplexity
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] Analysts gave IREN a consensus 'Moderate Buy' rating with an average 1‑year target price of $82.71. (article 56ffa5cb-0a53-401e-8c43-585961c24a46)
- [● 2 SOURCES] IREN has signed approximately $2.8 billion in AI cloud contracts with Microsoft, Nvidia, Perplexity and Figure AI. (IREN)
- [● 2 SOURCES] The contracts cover about 85% of IREN's targeted $4 billion annualized revenue run‑rate for 2026. (IREN)
- [● 2 SOURCES] IREN's stock had fallen more than 30% over the previous month before the rally. (IREN)
- [● 2 SOURCES] Trading volume on the rally day was about 73 million shares, above the average daily volume of roughly 53 million. (IREN)
- [● 2 SOURCES] Pre‑payments in the contracts will finance roughly 45% of the GPU infrastructure costs. (IREN)
- [● 3 SOURCES] IREN shares rose about 30% in a single day. (IREN)
- [● 2 SOURCES] Co‑CEO Daniel Roberts said demand for IREN's compute capacity exceeds what the company can currently build. (Daniel Roberts)
- [● 2 SOURCES] IREN's rally was its strongest single‑day gain since February 2023. (IREN)