IREN stock briefly rallied 6% after Microsoft accepted Horizon 1, initiating billing under a $9.7 billion deal.
IREN shares surged 6% to $45.26 after Microsoft formally accepted Horizon 1, the first of four data centers at IREN’s Childress, Texas campus, triggering billing under a $9.7 billion contract. The gain faded within an hour, leaving the stock unchanged at $42.54.
NVIDIA certified IREN’s Childress campus with Exemplar Cloud status following GB300 testing, though neither Microsoft nor NVIDIA shares reacted to the news. Bernstein set a $100 price target for IREN, with 11 of 15 analysts rating it Strong Buy, despite a beta of 4.3 indicating volatility.
TeraWulf rose 1% to $16.61, while Cipher Digital fell 5% to $16.35. The Global X Data Center and Digital Infrastructure ETF remained flat at $28.47.