Why Iren Stock Surged Higher Today

After rocketing higher by as much as 678% this year, investors had been dumping shares of Iren Limited (NASDAQ: IREN) in recent weeks. Shares of the artificial intelligence (AI) infrastructure provider are still more than 30% off recent highs, even after jumping today. The stock's 12.7% gain as of 11:10 a.m. ET came after AI bellwether Nvidia calmed investor fears of an AI spending bubble with a blowout earnings report. That spending includes a nearly $10 billion deal Iren recently announced with Microsoft. With demand for AI infrastructure seemingly still remarkably resilient, investors are again seeing a long runway for growth for Iren. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool