IREN stock jumps nearly 8% as AI data-center trade returns; earnings are the next test
IREN shares jumped 7.7% to $46.99 in Thursday afternoon trading, tracking gains in data-center stocks after Applied Digital announced talks with a major cloud customer. IREN operates U.S. and Canadian data centers for bitcoin mining and AI compute, with about 1,896 Nvidia GPUs. Its $9.7 billion, five-year GPU cloud deal with Microsoft includes strict delivery terms. Next results are expected in February, with focus on GPU rollout and funding.