Quick Read
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IREN surged 4% after an unconfirmed report named Anthropic as the mystery frontier AI lab behind its multiyear cloud contract disclosed in August.
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TeraWulf already holds a confirmed Anthropic lease yet slipped 0.2%, while the sector ETF WGMI held flat, making IREN’s gain entirely story-specific.
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IREN targets $4 billion in ARR by year-end but faces unresolved quality complaints about its British Columbia data centers scheduled for 2027 upgrades.
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Shares of IREN Limited (NASDAQ:IREN) are up 4% to $36.70 in morning trading after a report linked the artificial intelligence (AI) cloud provider to Anthropic. That report, which neither company has confirmed, is raising IREN stock while the rest of its peer group barely moves. Even after the jump, IREN stock is still trading below its 50-day moving average of $41.72.
The CoinShares Bitcoin Mining and Digital Power ETF (NASDAQ:WGMI) is flat at $40.25, so the sector as a whole isn’t joining the rally. Across the wider market, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.1% to $778.93.
Rival TeraWulf (NASDAQ:WULF), which already holds a confirmed Anthropic lease, is down 0.2% to $13.75. Fellow AI-infrastructure peer Applied Digital (NASDAQ:APLD) is down 0.8% to $23.49.
Anthropic Report Puts a Face on IREN’s Mystery Customer
A media report published Sunday said that Anthropic, a privately held AI developer, has an unannounced multiyear cloud contract with IREN. No financial terms, capacity figures or timetable accompanied the report, and neither company has confirmed the arrangement. The report identifies that customer as Anthropic. IREN disclosed in August that it had signed a multiyear cloud contract with a leading frontier AI lab it couldn’t name.
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Confirmation could add a frontier lab to a customer list that already includes Microsoft, Cohere, Perplexity, Figure AI and Fal AI. Horizon 1, IREN’s first liquid-cooled deployment, went to Microsoft, and the company’s AI Cloud revenue more than doubled sequentially to $70.5 million in Q4 FY2026. Most of IREN’s 2026 capacity is already sold.