🟢 IRE ETF (IRE) is trading 18.6% up today as underlying stock IREN soars on $1.6B Dell AI deal

The IRE ETF (IRE), which provides 2x leveraged exposure to IREN Limited, is trading 18.6% higher after IREN announced a major new hardware deal, significantly overshadowing broader crypto market trends.

• IREN announced a $1.6 billion purchase agreement with Dell Technologies for advanced air-cooled Blackwell computing systems.
• This hardware will support IREN's previously disclosed five-year, $3.4 billion managed services AI cloud contract.
• The news prompted at least one analyst to reaffirm a Buy rating and raise their price target on IREN's stock.