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Iren Limited Announces Significant Market Activity
Iren Limited (NASDAQ: IREN) shares jumped 15.8% to an approximate market cap of $8 billion following a major deal in the AI cloud infrastructure sector. This comes after their shares have more than tripled in value year-to-date, reflecting investor confidence amid soaring demand for AI services.
The recent deal between Microsoft and AI infrastructure company Nebius Group could be valued at up to $19.4 billion, significantly exceeding Nebius’s market cap of about $15 billion prior to the announcement. Iren co-founder Daniel Roberts stated the company is set to deliver approximately 9,000 Nvidia Blackwell GPUs in the upcoming months as they pivot from Bitcoin mining to AI cloud services.
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