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IREN Shares Tumble on Loss, but AI Pivot Gains Traction

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The Story

News Summary

  • IREN shares fell 8% after reporting a significant fiscal 2026 loss due to impairments from shifting from Bitcoin mining to AI data centers.
  • While total revenue dipped, AI cloud revenue surpassed mining for the first time, bolstered by major partnerships with Microsoft and Nvidia.
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NVDA price history

218.29 +19.87% over the displayed period

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