IREN ($IREN) shares jumped after the company disclosed a new slate of multi-year AI developer agreements worth a combined $2.8 billion, prompting management to lift its annual revenue target for the end of 2026 to “more than $4.0 billion,” up from its prior $3.7 billion goal. The update reinforced investors’ view that IREN is accelerating its pivot from a predominantly Bitcoin mining operator into an AI infrastructure and cloud software provider—an increasingly favored theme amid the broader ‘AI infrastructure’ rally.
The stock closed at $41.23 in the latest session, up 8.7% on the day, and… Read more
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