Arnne Carragie6h ago

IREN Stock Surges 13%: Freedom Capital Upgrade and $22B Anthropic Data Center Bid Spark Massive Rebound

AI Market Summary

IREN rallied after a Freedom Capital upgrade and reports it is shortlisted for Anthropic's 1.4GW Australia data-center tender (estimated $12–$22B). The news reinforces IREN's pivot from Bitcoin mining toward higher-margin AI cloud, supported by expanding power capacity and existing hyperscaler-linked contracts. Near term, sentiment should stay sensitive to confirmation of tender participation, capex funding capacity, and evidence that AI cloud revenue scaling can offset balance-sheet intensity.

Impact level

● Medium

Affected assets

NCSKIREN2USD/USDT+5.36%

AI Insight · NCSKIREN2USD/USDTAI Insight

▲ Bullish

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IREN Ltd (NASDAQ: IREN) shares jumped 13.11% to close at $43.91 following a Freedom Capital upgrade to "Buy" and reports linking the data center operator to Anthropic's massive 1.4-gigawatt Australian infrastructure tender. This explosive rally snapped a brutal nine-day losing streak as the company continues its high-margin pivot from Bitcoin mining to AI cloud services.

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