IREN is trading 4.55% up at $42.03 following a surge driven by $2.8 billion in new AI contracts and an upgraded 2026 revenue run-rate target of over $4 billion.
- The company's July 20 update highlighted a massive growth outlook for its AI infrastructure segment and a significant contract backlog.
- Positive momentum is further supported by a crypto market rally, with Bitcoin and Ether gaining 2.14% and 1.91% respectively since the last close.