Anthropic Signs Multiyear AI Cloud Deal With IREN, Adding Second Major Hyperscaler Customer
IREN sits 22% above its 52-week low of $28.93.
Summary
IREN has signed a multiyear AI cloud-computing agreement with Anthropic, according to The Information. The deal identifies the previously unnamed frontier AI lab that co-CEO Daniel Roberts referenced during the August earnings call. This adds a second major customer alongside the existing $9.7 billion Microsoft contract, strengthening IREN's pivot from Bitcoin mining to AI infrastructure. The stock is rebounding in premarket trading after a brutal week that saw shares fall 15.7% from $41.76 to $35.19. The $40 level is the next technical test, as it marks where the recent decline accelerated. The agreement does not eliminate execution risks around capital expenditures and infrastructure delivery, but it materially improves the revenue outlook.
At the time of this announcement, IREN was trading at $35.43 on NASDAQ in the Technology sector, with a market capitalization of approximately $13.9B. The 52-week trading range was $28.93 to $76.87. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.