On August 4, IREN Ltd rose 5.28% in regular trading, trading at $41.92/share, with turnover of $634 million. The rally comes as the market continues to digest the company's previously announced $2.8 billion AI compute contract.
IREN signed multi-year cloud services agreements with leading AI developers totaling $2.8 billion in contract value, prompting the company to raise its year-end AI cloud annualized recurring revenue target from $3.7 billion to over $4.0 billion. Approximately 85% of the updated target is now secured under long-term contracts, with a weighted average contract term of about four years. Customer prepayments represent roughly 45% of associated GPU capital expenditure, providing significant upfront funding. As of June 30, the company held approximately $7.6 billion in cash and equivalents, reflecting robust liquidity.
In the options market, notable institutional divergence emerged, with a $4.4 million short strangle strategy targeting a $35–$60 range alongside a $3.9 million outright put purchase betting on a deeper pullback, signaling contrasting views on the stock's near-term trajectory.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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