🔴 IREN is trading 4.3% down in after-hours trading amid AI-cloud and neocloud weakness

IREN is trading at $25.13, down 4.27% after hours as AI-cloud and neocloud stocks weakened.

• Alphabet’s results fueled concerns about AI spending and returns amid weakness in AI-cloud and neocloud stocks.
• A report highlighted unverified claims of reliability problems at IREN’s older British Columbia data centers.
• The Nasdaq fell 2.32%; Bitcoin and Ethereum slipped 1.47% and 2.39% since their last closes. On October 29, IREN announced $363 million in AI-compute equipment financing; coverage did not identify it as the cause.