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Iren shares climb after report of Anthropic cloud deal

IREN's stock rose after a report said the company signed an undisclosed multi-year cloud agreement with the AI firm, though neither side has confirmed it.

By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .

This story is no longer being updated. It reflects reporting up to .

What happened

Shares of Iren, a data centre operator, rose in overnight and premarket trading on Monday, Oct 12, after The Information reported a multi-year agreement to provide AI cloud computing to Anthropic. The companies have not officially disclosed the contract value, compute capacity, or duration. Iren has not said whether Anthropic is the frontier AI lab it signed a deal with in August.

Why it matters

The reported deal would give Anthropic AI cloud capacity from Iren and helps reinforce the company's pivot away from legacy mining operations. Market enthusiasm faded by Oct 13 because the report gave a customer name without a contract attached.

Timeline

  1. Oct 12, 6:31 AM ET: Iren shares rose 9% in Sunday overnight trading after The Information reported an undisclosed multiyear cloud agreement with Anthropic.
  2. Oct 12, 1:08 PM ET: Iren had not said whether Anthropic was the frontier AI lab it signed in August.
  3. Oct 13, 9:48 AM ET: Iren stock fell 4% to $33.18 as enthusiasm over the unconfirmed report faded.

Coverage

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