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
On October 12, Iren Limited (NASDAQ:IREN) experienced a surge in its stock price following reports of a multiyear cloud services agreement with AI research lab Anthropic. The company's shares closed at $34.80, marking a 1.11% decrease. However, the early morning news of the partnership caused an immediate boost, lifting Iren's shares to nearly $37 before the market opened. Trading volume reached 48.5 million shares, a significant increase of nearly 13% over its three-month average of 43.0 million shares.
The S&P 500 (SNPINDEX:^GSPC) and the Nasdaq Composite (NASDAQINDEX:^IXIC) also saw minor declines, with the S&P 500 slipping 0.06% to 7,807 and the Nasdaq Composite falling 0.44% to 27,246. Among peers in the AI cloud and data center infrastructure sector, TeraWulf (TWT) and Cipher Digital (CD) experienced declines of 2.90% and 3.85%, respectively, closing at $13.37 and $13.00 each.
Investors are closely monitoring the demand for AI infrastructure and the funding requirements to determine if the momentum in AI cloud capacity sales will persist. Iren, a vertically integrated AI cloud and data center operator, went public in 2021 and has since seen a 42% growth since its initial public offering.
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