Here’s what’s driving Iren’s stock higher after a brutal selloff

Here’s what’s driving Iren’s stock higher after a brutal selloff Here’s what’s driving Iren’s stock higher after a brutal selloff Iren announces a new cloud-computing deal and notes that much of its backlog is tied to ‘investment-grade counterparties’ Iren discussed new business deals in its earnings report on Thursday. investors got a small measure of relief on Thursday when the neocloud company posted results for its September quarter. Shares of Iren have been among the most pummeled in the technology sector’s recent selloff, losing 55% over the past month, including a 17% drop in Thursday’s session alone. Like fellow neocloud company CoreWeave rents out access to artificial-intelligence computing capacity, making it a focal point for investors worried about the sustainability of data-center spending.

Copyright ©2026 MarketWatch, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Buy the dip or wait it out? Young investors react as retail stock selling hits one of its highest levels since COVID crash.

Tech stocks log worst day since 2020 as carnage comes to the AI trade The ‘Musk selloff’ deepens as Tesla and SpaceX combine for $456 billion two-day wipeout How to navigate a market that hinges on just a handful of companies Micron, Sandisk and other AI stocks see steep drops: ‘Investors don’t like uncertainty’ Claudia Assis is a San Francisco–based reporter for MarketWatch. Follow her on Twitter @ClaudiaAssisMW. Emily Bary is MarketWatch's managing editor for companies coverage.

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