IREN's New Microsoft AI Deal and Employee Share Plan Boosts Stock 15.5%

IREN Limited's share price has risen 15.5% after a new Microsoft AI deal and employee share plan. The company has filed a $660.98 million shelf registration for 17.5 million ordinary shares linked to an employee share plan. IREN is pivoting its power-backed data centers towards AI cloud workloads and traditional Bitcoin mining. The Microsoft AI cloud deal highlights the company's use of equity and hyperscaler partnerships to scale its GPU- and power-heavy infrastructure business.