IREN Stock Jumps 6% as Microsoft Clears First Hurdle of $9.7B Deal
TLDR
- IREN stock rose 6% Thursday morning to around $46 per share
- The gain follows a 10% jump the previous day
- Microsoft accepted the completed first phase of IRENโs data center project
- The milestone is part of a $9.7 billion deal signed with Microsoft in November 2025
- The completed phase is called Horizon 1
IREN stock was trading around $46 per share Thursday morning, up roughly 6% on the day. That follows a 10% gain on Wednesday, putting the stock up about 16% over two days.
The move came after IREN announced that Microsoft had accepted delivery of Horizon 1, the first phase of a large data center project between the two companies.
The $9.7 billion deal between IREN and Microsoft was originally signed in November 2025. Horizon 1 is the first completed milestone under that agreement.
IREN described the acceptance in a press statement, confirming that Microsoft had formally signed off on the delivered phase.
The deal is one of the largest AI infrastructure contracts tied to a company of IRENโs size, and each milestone carries weight for investors watching the rollout.
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