IREN Ltd's stock experienced a significant decline of 7.56% during intraday trading on Thursday, following a period of notable strength for the AI infrastructure company in prior sessions.

The decline was attributed to heightened market concerns over the company's financial leverage following the recent completion of a substantial $3.65 billion investment-grade GPU financing facility. While this financing supports major partnerships, the scale of the debt has raised questions about the company's balance sheet. Furthermore, the sell-off was driven by profit-taking pressure, as the stock had rallied sharply in prior sessions on a series of positive catalysts, making it susceptible to a pullback as investors locked in gains.