IREN Stock Rises 9% After Microsoft Deployment and Nvidia Status
TLDR
- IREN stock ended the week up around 9% after completing its first AI cloud deployment for Microsoft
- The deployment, called Horizon 1, is the first of four planned phases under a five-year, $9.7 billion Microsoft contract
- Nvidia granted IREN its Exemplar Cloud status for the GB300 NVL72 platform
- Q3 2026 revenue came in at $144.8 million, down 21.6% year-over-year, with losses widening to $0.74 per share
- Analysts hold a consensus “Moderate Buy” rating with an average price target of $83
IREN stock closed the week up around 9% after two back-to-back announcements that caught the market’s attention. Microsoft accepted the company’s first 50-megawatt AI cloud deployment, and Nvidia handed IREN its Exemplar Cloud status for the GB300 NVL72 platform.
The stock opened Friday at $44.06. It carries a 52-week range of $17.22 to $76.87 and a market cap of around $15.75 billion. Year-to-date, IREN is up 19%.
The Microsoft deployment, known as Horizon 1, is located at IREN’s Childress, Texas campus. It uses direct-to-chip liquid cooling and marks the start of four planned deployments under a five-year, $9.7 billion contract signed in November last year.
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