Why iren Is Trending Today?

IREN stock has surged following a significant deal with Microsoft. The tech giant has agreed to a $10 billion deal with IREN, expanding its presence in the 'neocloud' space. This deal, valued at $9.7 billion, is set to secure IREN's position as a key player in the AI cloud market. Analysts have responded positively to the news, with some raising their price targets for IREN stock. Meanwhile, Serbian President Vučić is in Brussels for a summit on EU expansion, where he is expected to discuss Serbia's stance on the issue and its relations with Priština.

Microsoft has signed a $9.7 billion deal with IREN, a cloud computing company, to expand its AI infrastructure. This deal will give Microsoft access to Nvidia's advanced chips, helping to ease the demand for AI computing power. The agreement is set to last for five years. As a result of this significant partnership, IREN's stock has surged by over 8%.