IREN Shares Slide as Quarterly Results Fall Short

IREN’s stock faced significant selling pressure following the release of its financial results for the second quarter of fiscal year 2026. The provider of AI cloud services and data center operator reported revenue that came in well below market expectations, triggering a decline in after-hours trading.

Despite the disappointing headline numbers, the company highlighted several key strategic advancements. A major development was the securing of $3.6 billion in GPU financing for its Microsoft contract, with an annual interest rate below six percent. Combined with Microsoft’s upfront payment of approximately $1.9 billion, this arrangement covers an estimated 95 percent of GPU-related capital expenditures.

Furthermore, IREN announced a new 1.6-gigawatt data center campus Read more...