IREN - IREN Limited
Leveraged ETFs tied to IREN Ltd. (NASDAQ:IREN) surged as much as 40% on Monday, dramatically outperforming the underlying stock after the AI infrastructure company raised its long-term cloud revenue outlook and unveiled $2.8 billion in new customer contracts.
Middle East tensions, AI-driven tech weakness and stock-specific swings fueled big moves in leveraged ETFs. Here's a look at last week's top performers.
Iren (IREN) shares surged about 15% on Monday after the AI cloud infrastructure provider signed $2.8 billion in new cloud services contracts and raised its 2026
New AI cloud contracts have Iren's revenue growth exploding. Iren says contract pricing keeps rising.
IREN Ltd (IREN) shares are ripping higher this morning following a significant operational update that alleviate capital expenditure concerns and boosts the firm's long-term financial outlook. The Australian vertically integrated data center and artificial intelligence (AI) cloud company says it has signed $2.8 billion in total contract value across new multi-year cloud services contracts.
IREN Ltd (NASDAQ:IREN) stock is up 16% to trade at $39.06, after the company hiked its 2026 year-end AI cloud annual recurring revenue (ARR) target to over $4 billion.
Shares of AI infrastructure names are bouncing hard in early Monday trading, led by IREN (NASDAQ:IREN), up 17% to $39.28.
IREN lifts cloud revenue forecast, as it upgrades contracts with AI leaders. Hut 8 lands a new $9.8 billion deal, with room to grow.
IREN stock was gaining alongside Hut 8 as both companies announced big cloud-computing deals.
NEW YORK, July 20, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (“IREN”) today announced that it has raised its year-end AI Cloud annualized run-rate revenue (“ARR”)1 target from $3.7bn to more than $4bn2, of which approximately 85% is now under contract following new multi-year cloud services contracts with leading AI developers representing $2.8bn in total contract value.
Top neocloud stocks are in a freefall, erasing billions of dollars in value as concerns about AI spending emerge. IREN stock dropped to $33.61, its lowest level since April 7, and 52% below its highest point this year.
Shares of Nebius Group (NASDAQ:NBIS | NBIS Price Prediction) are down 13% in midday trading to $174, extending a rough stretch for the Amsterdam-based AI cloud specialist.
Shares of IREN (NASDAQ:IREN) are down another 9% in early afternoon trading Thursday to $34.67, capping a brutal stretch in which IREN stock has shed 41.3% over the past month.
NEW YORK, July 15, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) ("IREN") today announced the appointment of Eric Hammersley as Chief Information Security Officer. The appointment follows the recent additions of Kambiz Aghili as Chief Product Officer and Michael Nudelman as Chief Development Officer, as IREN continues to strengthen its senior leadership team and expand its AI Cloud platform across new markets and services.
NEW YORK, July 15, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN ) (“IREN”) today announced the appointment of Eric Hammersley as Chief Information Security Officer.
IREN (IREN 2.01%) is trying to turn Bitcoin mining infrastructure into an AI cloud platform. The upside case is powerful because AI needs electricity, land, GPUs, and data center capacity, but the risk is execution.
IREN strengthened its AI platform through new executive hires, Mirantis integration, Russell 1000 inclusion and continued infrastructure execution milestones. Meta Compute primarily threatens spot GPU rental providers, while IREN's $3.1 billion contracted ARR remains supported by long-term hyperscaler agreements. Management reaffirmed Horizon 1-4 delivery, a $3.7 billion ARR target for 2026 and expansion toward 1.21 GW of AI cloud capacity in 2027.
IREN is rapidly transforming from a Bitcoin miner to a vertically integrated AI infrastructure leader, trading at a 43%+ discount to consensus. AI Cloud Services revenue grew 94.2% QoQ in Q3 FY2026, offsetting deliberate Bitcoin mining wind-down; a $3.7B ARR target by end-2026 is in play. Key catalysts include Russell 1000 inclusion, Microsoft and NVIDIA contracts, and Horizon data centers coming online, driving a forward ARR multiple near 4x.
Meta Platforms is several years away from providing neocloud services, while neocloud pure plays are rapidly expanding their gigawatt pipelines.
Nebius is rated Buy, driven by its superior AI infrastructure platform and robust inference software solutions. NBIS boasts a diversified customer base, a healthy funding model, and a strong cash position, supporting aggressive capacity expansion with minimal net debt. NBIS differentiates itself with end-to-end AI offerings, including Token Factory and recent acquisitions, enabling cost-effective, scalable AI for a broad client base.