IREN Limited ($IREN) surged more than 30% in its latest session after the company said it has signed $2.8 billion in long-duration AI cloud service agreements with major AI ecosystem players including Microsoft ($MSFT) and Nvidia ($NVDA), underscoring a rapid pivot from Bitcoin mining to high-performance AI infrastructure.
The rally reflects a broader re-rating across parts of the digital infrastructure sector as investors increasingly reward firms that can convert low-cost power access and data-center operating experience into contracted AI compute revenue. For IREN, the new contracts also… Read more
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