IREN Stock Is Trending Tuesday: What's Going On?

Following Monday’s surge, IREN Ltd (NASDAQ:IREN) shares are trading marginally higher Tuesday morning. The stock jumped Monday after the company announced an expansion of its artificial intelligence cloud capacity and issued new revenue guidance.

What To Know: IREN has doubled its AI cloud to 23,000 GPUs with the purchase of 7,100 Nvidia B300s, 4,200 Nvidia B200s, and 1,100 AMD MI350Xs for approximately $674 million. The company said the move comes in response to a growing trend of customers contracting for capacity ahead of delivery.

The company is now targeting over $500 million in AI cloud annualized run-rate revenue by the first quarter of 2026. Daniel Roberts, IREN’s co-founder and co-CEO, highlighted the strength of the company’s vertically integrated platform in meeting “urgent, long-term demand”.

The expansion includes a broader range of hardware, featuring both Nvidia and AMD GPUs, to widen the addressable market. This growth is supported by financing workstreams and will be staged at IREN’s Prince George campus.

Benzinga Edge Rankings: Benzinga Edge Rankings award IREN an exceptional Growth score of 99.75 and a Momentum score of 99.20, though its Value score is a low 4.15.

IREN Price Action: According to data from Benzinga Pro, IREN shares are trading higher by 2.37% to $42.91 Tuesday morning. The stock has a 52-week high of $44.25 and a 52-week low of $5.13.

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How To Buy IREN Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in IREN's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.