IREN Limited Stock (NASDAQ: IREN) Today: Analyst Downgrade, $9.7B Microsoft AI Deal, and Wall Street Forecasts as of Dec. 23, 2025
December 23, 2025 — IREN Limited (NASDAQ: IREN) — formerly known as Iris Energy — is back at the center of the AI infrastructure trade after a turbulent month that has seen the stock swing between “neo-cloud momentum” and “financing-and-dilution anxiety.” By early afternoon U.S. time on Tuesday, IREN was trading around $42.6 after a sharp run-up, a pullback, and another bounce — a snapshot that reflects the market’s current debate: is IREN a high-growth AI compute platform with hyperscaler-backed demand, or a highly volatile story where execution risk and capital intensity can overwhelm the narrative? The Motley Fool Below