IREN Stock's 50% Spike Powered By Nvidia GPUs

Core Insights - IREN Ltd's stock has increased over 50% since late September due to a significant GPU acquisition that aligns with the AI cloud computing trend [1] Group 1: GPU Acquisition - On September 22, IREN announced the purchase of 12,400 GPUs, including NVIDIA's Blackwell and Hopper chips, in a deal worth $674 million [2] - This acquisition has doubled IREN's AI cloud capacity, attracting considerable investor interest [3] Group 2: Revenue Projections - By early October, IREN secured contracts for 11,000 of its new GPUs, translating to approximately $225 million in annualized recurring revenue (ARR), with many expected to be operational by the end of 2025 [4] - The company aims to achieve $500 million in ARR from its AI cloud segment by the end of Q1 2026 [4] Group 3: Stock Performance - Following the GPU purchase, IREN's stock price surged from around $42 to a peak of $70.05 before experiencing a pullback, indicating strong momentum and investor confidence in IREN's role as an AI infrastructure leader [5]