Iren Limited Stock Surges on AI Infrastructure Demand and Strategic Shifts

Iren Limited (IREN) shares jumped 15.8% following a landmark $19.4 billion AI cloud infrastructure deal involving Nebius, a move that has drawn investor attention to the company's pivot from Bitcoin mining support to AI services. The stock has more than tripled year-to-date as demand for AI infrastructure accelerates.

The company's August business update highlighted preparations for delivering 9,000 Nvidia Blackwell GPUs, with co-CEO Daniel Roberts noting "demand for our AI Cloud is accelerating." A new CFO appointment—Anthony Lewis—further signals strategic positioning in the red-hot AI sector.

While no direct cryptocurrency or exchange linkages were identified in the report, Iren's transformation mirrors broader capital migrations from blockchain to AI infrastructure among tech-adjacent firms.