IREN Limited (NASDAQ:IREN) stock jumped Thursday after the company delivered its Horizon 1 AI Cloud deployment to Microsoft Corporation (NASDAQ:MSFT). The milestone advances IREN’s $9.7 billion cloud services contract with Microsoft.
The Nasdaq is up 1.27% while the S&P 500 has gained 0.58%.
IREN Delivers Horizon 1 To Microsoft
IREN delivered Horizon 1, the first of four planned 50-megawatt IT-load AI Cloud deployments for Microsoft at its Childress, Texas, campus.
The deployments use direct-to-chip liquid cooling and are scheduled for delivery in 2026. They are part of a five-year, $9.7 billion cloud services contract announced in November 2025.
IREN also achieved NVIDIA Corporation’s (NASDAQ:NVDA) Exemplar Cloud status after NVIDIA tested the company’s GB300 NVL72 deployment at Horizon 1.
The designation recognizes IREN’s ability to support demanding AI workloads at scale with strong performance and reliability.
IREN said the rapid deployment also demonstrates the benefits of its vertically integrated model. The company controls data center design, engineering and construction.
Technical Analysis
The stock has rebounded sharply from its July low. It was trading about 20% above its 20-day simple moving average of $38.79.
However, IREN remains near several longer-term technical levels. The stock was about 2% above its 50-day moving average of $45.35 but remained slightly below its 100-day and 200-day averages.
The MACD was above its signal line, another sign that short-term momentum has improved.
Earnings Ahead
Investors are also looking toward IREN’s next earnings report, which is estimated for Aug. 27.
Analysts expect a loss of 63 cents per share on revenue of $139.5 million. Revenue totaled $187.3 million in the year-ago period.
IREN carries a Buy consensus rating with an average price forecast of $79.67.
Recent analyst actions include H.C. Wainwright maintaining a Buy rating and raising its price forecast to $90. Canaccord Genuity maintained a Buy rating with a $79 forecast, while Macquarie maintained an Outperform rating with a $90 forecast.
IREN Price Action
IREN shares were up 6.92% at $46.69 at the time of publication Thursday, according to Benzinga Pro.
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