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News  ›  Investing.com

IREN Stock Soars 30% to Record $75.73 After $9.7B Microsoft AI Cloud Deal

Investing.com Logo Investing.com By Itai Smidt
IREN Stock Soars 30% to Record $75.73 After $9.7B Microsoft AI Cloud Deal

Iren Ltd experienced a significant stock surge after securing a $9.7 billion AI infrastructure deal with Microsoft, transforming from a crypto infrastructure company to a leading AI cloud provider with expanded data center capabilities in Texas.

Insights
XLRE   negative

Stock price fell 2.93% as interest rate-sensitive sectors were most impacted by Powell's cautious remarks


IREN   positive

Massive $9.7B Microsoft deal, 613.87% YoY stock increase, expanded AI cloud infrastructure, strong financial performance with 223.31% revenue growth