IREN Limited (NASDAQ: IREN) Stock: Latest News, 2026 Forecasts and AI Cloud Outlook as of December 9, 2025
IREN Limited completed a $2.3 billion convertible notes deal this week, reshaping its finances after a year of extreme stock swings. Shares traded near $47 on December 9, down from a November peak of $77 but up over 200% in a year. The company signed a $9.7 billion AI cloud deal with Microsoft and now has a $15 billion market cap. IREN operates data centers in North America, focusing on bitcoin mining and AI services.