IREN Stock Is Surging Monday: What's Going On?

IREN Ltd IREN shares are trading higher on Monday after the company announced expanded AI cloud capacity and introduced new revenue guidance.

What To Know: Iren said it purchased 7,100 Nvidia B300s, 4,200 Nvidia B200s and 1,100 AMD MI350Xs for $674 million, bringing its AI cloud capacity up to 23,000 GPUs.

The company said it has seen a growing trend of customers contracting capacity ahead of delivery and is currently in discussions for several thousand Blackwell clusters.

The company said its expanded fleet of GPUs is expected to increase the company’s AI cloud annualized run-rate revenue (ARR) to $500 million by the first quarter of 2026.

“Doubling our fleet to more than 23,000 GPUs in just a few months highlights the strength of our vertically integrated platform and our ability to meet urgent, long-term demand. The shift toward pre-contracting ahead of delivery provides further momentum for the growth of our AI Cloud business,” said Daniel Roberts, co-founder and co-CEO of Iren.

How To Buy IREN Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Iren's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

IREN Price Action: Iren shares were up 9.11% at $42.16 at the time of publication on Monday, according to Benzinga Pro.

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