IREN Rebounds 8% as Short-Squeeze Risk and AI Technicals Align

IREN shares surged more than 8% on Wednesday despite a lack of new official announcements. The rally follows a recent pullback in the stock's price.

Short interest has climbed to over 14% of the public float, creating significant short-squeeze risk. Technical analysts noted the stock found support at its 200-day moving average, a signal shared by other leading AI-related equities.

This momentum follows the company's March 4 announcement to expand its AI cloud capacity. That expansion project utilizes new NVIDIA GPUs to scale operations.