Overview
- IREN shares rose about 5% to $48.22 on Thursday during a broader AI-led tech rally following Nvidia’s blowout quarter, according to Benzinga.
- The company recently signed a five-year, roughly $9.7 billion GPU services agreement with Microsoft to deploy Nvidia GB300 systems at its Texas campus.
- Benzinga reports a $5.8 billion hardware deal with Dell that IREN says will support the GPU rollout tied to the Microsoft engagement.
- For fiscal Q1 2026, IREN posted $240.3 million in revenue and $1.08 EPS, with $232.9 million from Bitcoin mining and $7.3 million from AI cloud services.
- Analyst commentary highlighted secured power capacity cited at 3 GW and planned liquid‑cooled expansion at Childress, while Canaccord lifted its price target to $70 on Nov. 10.