Data center firm IREN signs new deal with frontier AI lab; quarterly loss hits shares
Data center firm IREN said on Thursday it has signed a new multi-year contract with a frontier AI lab and secured $2.8 billion in new financing to help fund its AI chip purchases.
IREN shares fell more than 7% in extended trading after the company swung to a quarterly loss, driven by costs tied to retiring bitcoin mining hardware as it shifts to AI cloud services.
Here are more details:
