IREN Limited (IREN) Stock on 3 December 2025: Capital Raise, AI Cloud Supercycle and What Analysts Expect Next
IREN Limited announced a $3.6 billion capital raise on December 3, 2025, to fund its Microsoft AI partnership and refinance debt. The company priced $2 billion in convertible notes and a $1.63 billion direct share offering at $41.12 per share. IREN stock traded near $42.86, up 4% intraday, with year-to-date gains of about 337%. Market cap stands at roughly $13.7 billion.