IREN stock drops 6% as Nvidia’s CoreWeave deal jolts AI data-center trade

New York, Jan 26, 2026, 12:53 EST — Regular session

Nasdaq-listed IREN Limited (IREN.O) shares dropped 6.1% to $53.22 in early afternoon trading Monday, bouncing between $52.81 and $57.09 beforehand. Over 23 million shares traded hands.

The shift highlights just how fast sentiment can turn in the tight circle of crypto-linked miners and data-center operators, often seen as a stand-in for the AI infrastructure boom. This space thrives on headlines — and Monday delivered plenty.

Bitcoin slipped roughly 0.3%. Miners Marathon Digital and Riot Platforms each dipped between 3% and 4%. CleanSpark took a bigger hit, falling nearly 9%, and TeraWulf lost about 2%. Meanwhile, broader U.S. equities edged up, with ETFs tracking the S&P 500 and Nasdaq climbing around 0.6% to 0.7%.

Nvidia announced a $2 billion investment in CoreWeave at $87.20 per share, aiming to expand their collaboration on boosting U.S. data-center capacity. CoreWeave plans to reach over 5 gigawatts of AI data-center power by 2030. CEO Michael Intrator described Nvidia as “the leading and most requested computing platform” in AI deployments. Reuters

IREN, headquartered in Sydney, operates renewable-powered data centers in Canada and Texas, supporting Bitcoin mining and AI cloud services, according to its Reuters company profile. Its AI setup depends on GPUs—chips essential for training and running AI models—and includes roughly 1,896 Nvidia H100 and H200 processors. Reuters

According to its website, IREN hasn’t issued any updates since the Jan. 22 investor release that set the date for its upcoming quarterly results. IREN

Leverage remains the key issue for traders. Any steeper fall in bitcoin or holdups in converting power and hardware into contracted AI income could tighten cash flow and swiftly shift investor appetite for growth.

IREN plans to release its quarterly results for the period ending Dec. 31 on Feb. 5, followed by a conference call at 5 p.m. ET. Investors are expected to focus on any news regarding AI cloud capacity and mining economics. globenewswire.com

Shan Ahmed Khan Latest posts

As a journalist focused on finance and the stock market, he delivers fast, reliable, and easy-to-understand coverage of market news.

View all

MRG Metals (MRQ.AX) Shares Jump 33% on ASX, 12-Month Target at A$0.0057
March 20, 2026, 12:09 AM EDT. MRG Metals Ltd (MRQ.AX) surged 33.33% to A$0.004 on 20 Mar 2026 on the Australian Securities Exchange, driven by renewed investor interest in its Mozambique heavy mineral sands projects. The stock traded 1.4 million shares, below its 50-day average volume but above recent levels, reflecting thin liquidity in this microcap with a market cap of about A$11.8 million. Meyka AI gives MRQ.AX a hold rating with a 12-month price target of A$0.0057, suggesting 42% upside potential. Technical signals remain mixed with no strong trend. Key risks include low trading volume, large share count, and exposure to commodity cycles. Traders should watch for drilling updates and project progress as potential catalysts moving forward.