Stock Market Today, Oct. 12: Iren Surges on Reports of Anthropic Cloud Services Deal
Iren Limited (NASDAQ:IREN), a vertically integrated AI cloud and data center operator, closed at $34.80, down 1.11%. Shares moved after early morning reports that Anthropic signed a multiyear cloud services agreement with Iren. Investors are watching AI infrastructure demand and funding needs to see if AI cloud capacity sales will maintain momentum.
Trading volume reached 48.5 million shares, coming in nearly 13% above its three-month average of 43.0 million shares. Iren IPO’d in 2021 and has grown 42% since going public.
The S&P 500 (SNPINDEX:^GSPC) slipped 0.06% to 7,807, while the Nasdaq Composite (NASDAQINDEX:^IXIC) fell 0.44% to 27,246. Among AI cloud and data center infrastructure peers with legacy Bitcoin (CRYPTO:BTC) mining operations, TeraWulf closed at $13.37, down 2.90%, and Cipher Digital closed at $13.00, down 3.85%.
Iren shares got an early boost this morning, jumping to almost $37 after reports that the company has a new multiyear cloud services agreement with AI research lab Anthropic.
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