IREN Soars on Microsoft Acceptance, but Quickly Gives Up Gains

IREN's stock price surged 6% to $45.26 after Microsoft formally accepted Horizon 1, the first data center being built for the hyperscaler at IREN's Childress, Texas campus.

However, within the first hour of trading, IREN's stock was back to unchanged at $42.54.

The milestone marks the start of billable revenue under a five-year, $9.7 billion contract between Microsoft and IREN, addressing concerns over financing for IREN's AI buildout.

NVIDIA certified IREN's Childress campus with Exemplar Cloud status after GB300 testing, but both MSFT and NVDA stocks barely moved on the news.