New York, Jan 18, 2026, 07:38 EST — Market closed
- IREN shares surged on Friday and maintained their gains in after-hours trading.
- Attention remained fixed on analyst upgrades and the Microsoft AI cloud deal.
- U.S. stock markets remain closed Monday in observance of MLK Day; trading will pick back up Tuesday.
Shares of IREN Limited surged 11.4% on Friday, finishing at $57.82. In after-hours trading, they edged up another 0.8% following the 4 p.m. close. (StockAnalysis)
The stock faces an extended break this time. U.S. markets will be shut on Monday for Martin Luther King Jr. Day. Trading picks back up Tuesday. (Nasdaq)
This is significant for IREN, which straddles two volatile sectors — crypto and artificial intelligence. Bitcoin hovered near $95,073 on Sunday, showing little movement.
Analyst moves played a role as well. On Jan. 13, H.C. Wainwright & Co upgraded IREN from “sell” to “buy,” according to a report on Nasdaq.com. (Nasdaq)
The main driver remains AI capacity and who can provide it. Microsoft has inked a five-year deal worth about $9.7 billion with IREN, granting access to Nvidia’s advanced GPUs — the chips essential for training AI models — purchased via Dell, Reuters reported. Microsoft CFO Amy Hood warned that shortages are likely to last “through mid-2026.” Reuters also noted the contract includes a clause allowing termination if IREN fails to meet delivery deadlines. (Reuters)
IREN, an Australia-based operator of renewable-powered data centers, operates sites in Canada and Texas. It runs bitcoin mining alongside AI cloud services. According to a Reuters profile, its AI cloud business uses roughly 1,896 Nvidia H100 and H200 GPUs. (Reuters)
Friday’s action was volatile and noisy. IREN fluctuated from $51.85 up to $58.74, with roughly 54 million shares trading hands, per market data.
The rally also mirrored a wider push among U.S.-listed miners pitching a “power-to-compute” story. Riot Platforms jumped roughly 16% on Friday, while Marathon Digital climbed about 7%. Riot announced it secured an AI data-center lease agreement with Advanced Micro Devices valued at up to $1 billion, according to Barron’s. (Barron’s)
When trading resumes Tuesday, the key will be if IREN can stay above the mid-$50s as liquidity returns. A drop in bitcoin or another stumble in the AI sector could quickly erase a week’s gains.
But the upside story isn’t without risks. IREN is pouring money into large build-outs and snapping up chips and servers in a market known for rapid price swings. Any delay in bringing new capacity online or a spike in power costs could hit margins hard. On top of that, a fall in crypto prices would tighten mining cash flow.
Earnings are the next key event. MarketBeat projects IREN will release its results on Feb. 11, following its usual timing, with a conference call set for Feb. 12. (MarketBeat)
