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Home/News Feed/IREN stock jumps 6% as Microsoft accepts first AI data center, marking start of $9.7B contract revenue.
IREN
$41.51
-$1.09 -2.56%

IREN stock jumps 6% as Microsoft accepts first AI data center, marking start of $9.7B contract revenue.

Market News
21 Aug 2026
24/7 Wall Street
View Source
Bullish
pluang ai news

IREN's stock surged 6% after Microsoft formally accepted Horizon 1, the first of four AI data centers at IREN’s Texas campus, enabling IREN to start invoicing under a $9.7 billion five-year contract. This milestone addresses concerns about financing the costly AI infrastructure buildout, supported by a $3.65 billion debt package. While IREN's AI cloud revenue rose sharply, Bitcoin mining revenue declined. Peers TeraWulf and Cipher Mining showed mixed stock reactions, and Microsoft and NVIDIA stocks remained stable. Analysts mostly rate IREN as a moderate to strong buy, with revenue ramp expected in Q3 FY2026.

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