IREN stock drops after report says it delayed Microsoft AI spending
IREN Ltd. shares fell 2.5% in overnight trading after an 11.4% decline earlier in the day, as investors reacted to a report linking the Australian data‑center firm to a slowdown in Microsoft’s AI‑related capital spending. The Information, citing unnamed sources, said delays at IREN’s Childress, Texas site meant Microsoft spent about $5 billion less on capex than planned for the September…
Key points
- IREN shares fell 2.5% overnight after an 11.4% drop earlier in the session.
- The Information reported IREN’s delays at its Childress, Texas data center contributed to Microsoft spending about $5 billion less than planned.
- Analysts expect IREN’s fiscal Q1 sales to fall 9% to $221.7 million and adjusted loss to widen to $0.67 per share.
Analysts expect IREN’s fiscal first‑quarter sales to fall 9% to $221.7 million and its adjusted loss to widen to $0.67 per share, compared with a $0.01 loss a year earlier. The stock decline comes amid broader pressure on data‑center and cloud stocks after Democrats won control of Congress, raising concerns about tighter regulation and slower AI infrastructure build‑out.
IREN Stock Drops After Report Says It’s Behind Microsoft’s AI Spending Delay, As Investors Turn To Earnings
finance.yahoo.com · 4 November 2026Loading the full article…
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