On August 11, IREN Ltd rose 5.33% in regular trading to $40.92/share, with turnover of $412 million. The stock staged a sharp intraday reversal after earlier declining over 5% on profit-taking following its 8.70% surge on August 8.

On the fundamental side, the company recently completed its acquisition of Mirantis, strengthening the software layer of its vertically integrated AI cloud platform. IREN also secured $2.8 billion in total contract value from multi-year AI cloud services agreements and raised its year-end AI cloud annualized run-rate revenue target to over $4 billion, with approximately 85% now under contract and a weighted average term of about four years. Within the Application Software sector, crypto-linked peers Riot Platforms gained 9.28% and Circle Internet rose 8.15%, providing additional tailwinds for the bitcoin mining and AI cloud services provider.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)