🟢 IREN is trading 4.8% up today after securing $2.8B in AI cloud contracts and raising its 2026 revenue target

IREN is trading 4.8% up at $42.11 after investors digested a July 20 earnings update highlighting $2.8 billion in new multi-year AI cloud contracts.

• The company raised its 2026 AI Cloud Annual Recurring Revenue (ARR) target to above $4 billion, signaling significant growth in its high-performance computing segment.
• Positive momentum in the cryptocurrency market is providing additional tailwinds, with Bitcoin and Ethereum both rising approximately 1.5% since the last close.
• The price action reflects a broader rebound for AI-and-crypto-linked names following a period of recent sector-wide volatility.