IREN's stock dropped 5% following a 20% rally as banks tighten lending for AI data center projects, impacting companies with heavy debt like IREN. Despite beating revenue expectations and a $20.3 billion backlog, IREN faces funding challenges with $6 billion in planned capital spending still unfunded. Peers TeraWulf and Applied Digital rose 2%, benefiting from different business models and financing strategies. IREN's ability to meet its January revenue milestone amid tighter credit conditions remains a key investor focus.
IREN shares are down 3.19% at USD 20.95 on Pluang as of Nov 09, 2026 22:01 WIB, reflecting ongoing concerns about funding and credit tightening. Meanwhile, TeraWulf is up 3.69% at USD 11.79, and Applied Digital has risen 3.47% to USD 16.09, showing stronger investor confidence in their business models. Trading volumes remain active with IREN at over 112 million shares and TeraWulf at 106 million shares on the platform.
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