IREN (IREN) Climbs 8.5% Ahead of Earnings

Group 1 - IREN Ltd. (NASDAQ:IREN) experienced a significant stock price increase of 8.46%, closing at $56.68, as investors adjusted their portfolios ahead of the upcoming earnings report for Q2 FY 2026 [1][3] - The company is targeting an annualized revenue of $3.4 billion and plans to expand its GPU capacity to 140,000 to support its artificial intelligence initiatives [2][3] - IREN's expansion to 140,000 GPUs represents only 16% of its 3GW grid-connected power portfolio, indicating substantial capacity for scaling its AI Cloud platform [3] Group 2 - IREN has secured several multi-year contracts, including a significant partnership with Microsoft, enhancing its position as a leading AI Cloud Service Provider and expanding its customer base [4] - The company is recognized for its potential as an investment, although there are opinions suggesting that other AI stocks may offer higher returns with lower risk [5]