IREN Ltd. Gains Momentum Amid Microsoft's AI Infrastructure Outlook
IREN Ltd. (NASDAQ:IREN) surged by 30.54% on July 30, 2026, following a six-day losing streak and supported by Citadel’s backing to prevent a fire sale of its stock. The rally was further fueled after Microsoft announced continued growth in capital expenditures for 2027 during an earnings call, reinforcing confidence in AI infrastructure demand. IREN also raised its annualized run-rate revenue (ARR) target from $3.7 billion to $4 billion following the acquisition of multi-year cloud services contracts worth $2.8 billion with major AI developers and hyperscalers like Microsoft and Nvidia. The company aims to expand its AI cloud capacity significantly, targeting 1.2 gigawatts by 2027. Institutional ownership increased in Q1 2026 as hedge funds raised their stake count from 36 to 53, though total holdings dipped slightly due to reassessment of valuations across the AI sector.
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Topics: AI infrastructure capital expenditures cloud services contracts Microsoft partnership