IREN shares gain after report of multiyear Anthropic cloud deal

what happened

IREN shares rose more than 5% in Monday’s premarket session after The Information reported that IREN had entered into a multiyear cloud agreement with Anthropic. The company, which shifted from crypto mining to supplying servers for artificial intelligence, has not publicly announced the customer tied to the reported contract.

The Information examined the economics of Anthropic’s data-center leases and said the AI developer is pressing its cloud partners to speed up construction of new facilities. The publication added that Anthropic’s effort to expand computing capacity increasingly relies on current and former bitcoin miners, including Hut 8, TeraWulf, IREN and Nscale.

IREN disclosed in August that it had signed an agreement with a leading AI lab, but did not name the customer at that time. Seeking Alpha published the item for informational purposes and stated that it does not provide personalized investment advice.

why it matters

The report links IREN to Anthropic’s expanding need for computing capacity, highlighting market interest in the company’s shift from crypto mining toward AI infrastructure.

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