IREN’s $6 Billion Stock Offering: Is This AMC Entertainment 2.0 for the AI Era?

Quick Read IREN (IREN) expanded its equity offering to $6B and shares fell 8.5%. The company purchased 50,000+ Nvidia B300 GPUs toward a 150,000-unit fleet targeting $3.7B in revenue. AMC Entertainment fell from $300+/share to $1+/share after similar dilution. IREN is financing its AI data-center expansion through a massive equity offering that raises dilution concerns similar to AMC’s repeated share issuances during the meme-stock era. The analyst who called NVIDIA in 2010 just named his top 10 AI st ...