New York, Jan 18, 2026, 06:14 (EST) — Market closed.
- IREN shares jumped 11.4% on Friday, marking their largest single-day gain in weeks.
- TSMC’s boost to its 2026 capital spending forecast gave AI-related stocks a lift.
- U.S. markets were closed Monday in observance of MLK Day and will reopen Tuesday.
IREN Ltd shares surged 11.43% Friday, closing at $57.82. The Nasdaq-listed bitcoin miner and data-center operator extended its rally ahead of the market holiday.
The shift is significant as IREN now acts as a quick-response proxy for two headline-driven trades: AI data-center investment and crypto sentiment. With U.S. markets shut Monday for Martin Luther King Jr. Day, traders face an extended break to absorb updates on chips, cloud, and crypto before stocks resume trading.
Friday’s rally followed a wave of AI optimism sparked by Taiwan Semiconductor Manufacturing Co’s announcement of a significant boost in capital spending—a move investors see as a strong vote of confidence in ongoing demand for AI chips. TSMC CEO C.C. Wei described himself as “quite satisfied” after discussions with chip buyers and major cloud users, according to a Reuters Breakingviews column. Reuters
IREN operates close to the heart of that supply chain. The company markets itself as an AI cloud infrastructure provider. A Reuters report from last year revealed Microsoft inked a deal worth about $9.7 billion over five years, linked to Nvidia’s cutting-edge chips. Deployment is set to roll out in phases through 2026 at IREN’s Childress, Texas campus. The report also noted the contract includes a termination clause if IREN misses delivery deadlines.
Crypto still plays a role. Bitcoin hovered near $95,072 on Sunday, showing little movement for the day. Miners continue to react to weekend swings in the token, despite U.S. stock markets being closed.
The next test arrives fast, holiday or not. The U.S. cash market reopens Tuesday, with traders watching to see if Friday’s volume-driven spike holds—or if risk appetite tied to AI dims and prices drop off quickly.
Investors are also eyeing IREN’s upcoming earnings report, scheduled for Feb. 11, according to Zacks’ calendar.
The downside is evident as well. IREN’s AI expansion demands significant capital and precise execution. Missing delivery targets or a wider slump in AI-related valuations could weigh heavily on the stock after its recent surge. On top of that, crypto volatility injects extra uncertainty.
