IREN Stock Down Despite 800MW AI Data Center Deal
IREN shares plunged 13.9% to $53.29 after announcing an 800MW South Australia data-center campus and closing a $3.65 billion GPU financing facility, as investors sold AI and crypto-linked stocks amid a sharp Nasdaq selloff and falling bitcoin prices; B. Riley raised its price target to $96 but cut near-term EBITDA estimates.