IREN is trading 4.3% up at $62.35 after announcing a major $1.6 billion GPU purchase agreement with Dell to build out AI cloud capacity.
- The deal extends a multi-day rally as the company significantly scales its AI infrastructure and cloud capabilities.
- Today's strength is driven by the AI expansion news rather than cryptocurrency prices, with Bitcoin trading roughly flat.
- Positive sentiment across broader AI-related tech sectors and futures is providing additional tailwinds for the stock.