On August 13, IREN Ltd rose 6.11% in pre-market trading, trading at $46.37 per share with turnover of approximately $40.26 million, extending a multi-day rally driven by powerful sector catalysts.

On the news front, Anthropic signed a $9.1 billion, 20-year cloud computing contract with Riot Platforms, underscoring sustained high-intensity demand from AI companies for compute capacity. Simultaneously, NVIDIA partnered with six major financial institutions to establish a $500 billion AI infrastructure financing platform, directly benefiting emerging cloud providers that lack hyperscaler-grade balance sheet support. Additionally, IREN delivered its Horizon 1 servers to Microsoft and earned NVIDIA Cloud Excellence designation with GB300 NVL72 hardware, while reaffirming its target to expand AI cloud capacity to 480MW by year-end and 1.2GW by next year.

IREN holds $2.8 billion in signed AI compute contracts and recently completed the acquisition of Mirantis to strengthen its vertically integrated AI cloud platform software layer, positioning the company as a direct beneficiary of accelerating AI infrastructure spending.

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