IREN Limited (IREN) Stock Plunges 12% as AI ‘Neocloud’ Trade Stumbles – Despite $9.7B Microsoft Deal (14 November 2025)
IREN Limited (NASDAQ: IREN) – the Australian-born Bitcoin miner turned renewable-powered AI data‑center operator – is having another wild session on Friday, 14 November 2025. Despite landing a landmark US$9.7 billion AI cloud contract with Microsoft earlier this month and reporting record quarterly results last week, the stock is down sharply again today as investors reassess the risks behind its breakneck expansion. IREN stock today: sharp selloff after a parabolic year As of Friday afternoon, IREN shares are trading around $48.65, down approximately 12.7% over the last 24 hours. That move caps a bruising week in which the stock has