Why Iren Limited Stock Surged Over 25% This Week

Group 1 - The artificial intelligence (AI) sector has seen significant activity, highlighted by a major deal between Microsoft and Nebius Group for AI cloud infrastructure [1][4] - Iren Limited's stock has surged approximately 80% over the past month, with a notable increase of nearly 26% this week [2] - Iren Limited is expanding its AI cloud graphics processing unit (GPU) capacity, leveraging revenue from its Bitcoin mining operations [5][10] Group 2 - Iren Limited reported about $500 million in fiscal 2025 revenue and anticipates more than doubling that in the current fiscal year [6] - The company plans to increase its operational GPUs from approximately 1,900 to 10,900 in the coming months [6] - Iren is pursuing three data center projects, including a transition from crypto mining to AI in British Columbia, indicating a strategic shift towards the AI cloud market [7][10] Group 3 - Iren sees potential to operate with 20,000 GPUs and aims for a future capacity of up to 60,000 GPUs [8] - The recent Microsoft-Nebius deal has reinforced Iren's outlook on the AI cloud market [7] - Despite its growth plans, Iren will require additional financing to fully realize its expansion strategy [7][10]