Stock Track | IREN Ltd Soars 5.31% in After-Hours Trading Following AI Cloud Services Pivot Announcement

Stock Track04-08

IREN Ltd's stock surged 5.31% during after-hours trading on Tuesday, following the company's strategic announcement to pivot from Bitcoin mining to GPU-powered AI cloud services.

The significant after-hours movement appears to be driven by investor optimism surrounding IREN's accelerated transition to AI infrastructure. According to recent reports, the company has secured over 50,000 Nvidia B300 GPUs and is advancing plans to leverage its 4.5GW power portfolio for large-scale data center expansion, targeting substantial AI Cloud annual recurring revenue by late 2026.

While the company's ambitious expansion is supported by substantial financing raised in recent months, including a US$6.00 billion at-the-market equity program, investors seem to be focusing on the growth potential of IREN's AI cloud-focused future despite potential execution risks and hardware cost considerations.

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