On October 19, IREN Ltd rose over 5% in Pre-Market Trading. The move was linked to continuing market expectations around a multi-year cloud services agreement with Anthropic. Recent coverage said Anthropic was identified as the previously undisclosed frontier AI lab customer tied to IREN Ltd's major cloud contract, reinforcing its positioning as an AI cloud infrastructure provider.

Earlier reports indicated the agreement could help IREN Ltd further shift power and data center capacity from bitcoin mining toward AI cloud services. That narrative had already driven a prior pre-market jump of more than 5%, and the latest pre-market rise appears to reflect the same catalyst continuing to reverberate through trading sentiment.

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