Connect with us

Business

IREN Limited (IREN) Stock Surges to $45.45 on AI Cloud Momentum

Published

on

UiPath

IREN Limited shares rallied sharply on February 24, 2026, closing at $45.45 after jumping 7.29%, extending a volatile but upward trend as the former Bitcoin miner-turned-AI cloud infrastructure provider benefits from major hyperscaler deals and institutional interest, even after a recent earnings miss highlighted execution challenges in its pivot.

IREN Limited
IREN Limited

As of February 24, 2026, IREN (NASDAQ: IREN) traded in a session range of $40.83 to $45.68 with volume exceeding 36 million shares—below recent averages but still robust amid the rebound. The stock has climbed significantly in recent sessions, recovering from dips following its February 5 Q2 fiscal 2026 results, and now sits well above early-2026 levels while remaining below its 52-week high near $76-77. Year-to-date performance reflects strong momentum in the AI infrastructure theme, with the market capitalization approaching $15 billion.

The February 24 advance followed heavy pre-earnings positioning and post-miss digestion, with analysts and investors focusing on forward visibility from multi-year contracts rather than near-term quarterly shortfalls. In its Q2 FY26 results released February 5, IREN reported revenue of $184.69 million—down 23.1% year-over-year and missing consensus estimates of around $229.64 million—amid declining Bitcoin mining volumes and prices during the period. Adjusted EPS came in at -$0.44 to -$0.52 (depending on source), wider than the -$0.07 to -$0.18 expected, contributing to a negative return on equity of about 10% and ongoing net losses.

Despite the miss, management emphasized progress in its strategic shift toward AI cloud services. The company highlighted secured multi-year GPU cloud contracts, including a landmark deal with Microsoft that underpins ambitions for $3.4 billion in annualized recurring revenue (ARR) by the end of 2026. Additional agreements with customers like Together AI, Fluidstack, and Fireworks AI bolster the pipeline, with GPU financing and purchases (including from Dell) supporting deployment.

IREN appointed John Gross as Chief Innovation Officer on February 17, 2026, in a new role to oversee engineering standards, thermal architecture, and commissioning for next-generation data centers. The move aligns with expansion at sites in British Columbia, Childress, Texas, and the Sweetwater Hub, where the company leverages sustainable power sources to attract high-performance computing tenants.

Advertisement

Analysts remain predominantly bullish on the long-term story. Consensus among 13-18 covering firms rates IREN a Moderate Buy to Buy, with average 12-month price targets around $71.69 to $79.31—implying 58-75% upside from current levels. High targets reach $125, reflecting optimism around AI tailwinds, while some caution persists on profitability timing and execution risks. Seeking Alpha contributors noted execution hurdles and uncertain near-term profitability offset by AI momentum and partnerships, maintaining Hold views in some cases.

The company’s transition from pure Bitcoin mining to diversified digital infrastructure—balancing legacy mining with AI cloud hosting—positions it amid surging data center demand. IREN’s sustainable energy model provides a competitive edge in power-intensive operations, with institutional inflows (including Cantor Fitzgerald adding shares) supporting liquidity and confidence.

Upcoming catalysts include the next earnings report for Q3 FY26, expected around May 13, 2026, where updates on AI cloud ARR progress, GPU deployments, and Bitcoin mining trends will be scrutinized. Management’s guidance for significant ARR growth by end-2026 could fuel further upside if milestones are met; delays in capacity ramp or softening crypto conditions might introduce volatility.

IREN navigates a high-growth but high-risk phase in the evolving digital asset and AI landscape. Its hyperscaler partnerships, infrastructure scale, and sustainable focus offer substantial potential as AI infrastructure spending accelerates. Investors betting on the pivot see current levels as attractive despite recent misses, with the stock’s trajectory tied to execution on AI contracts and broader sector tailwinds.

Advertisement
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Bill Gates tells Gates Foundation staff time with Epstein was ‘huge mistake’

Published

on

Bill Gates tells Gates Foundation staff time with Epstein was 'huge mistake'

Bill Gates apologized to staff of the Gates Foundation over his ties to Jeffrey Epstein, admitting he made mistakes that had cast a cloud over the philanthropic group while insisting he didn’t participate in Epstein’s crimes. 

In a town hall on Tuesday, the Microsoft co-founder acknowledged that he had two affairs with Russian women that Epstein later discovered, but that they didn’t involve Epstein’s victims. “I did nothing illicit. I saw nothing illicit,” Gates said, according to a recording reviewed by The Wall Street Journal.

Advertisement

Gates said images in the recently released Epstein files showing him with women whose faces are redacted were pictures that Epstein asked him to take with Epstein’s assistants after their meetings. “To be clear I never spent any time with victims, the women around him,” Gates said.

“It was a huge mistake to spend time with Epstein” and bring Gates Foundation executives into meetings with the sex offender, Gates said. “I apologize to other people who are drawn into this because of the mistake that I made.”

CLINTONS TO TESTIFY IN EPSTEIN PROBE AFTER BRITISH POLICE ARREST PRINCE ANDREW, PETER MANDELSON

Bill Gates

Microsoft co-founder Bill Gates attends a dinner hosted by President Donald Trump with technology leaders in the State Dining Room at the White House in Washington, D.C., Sept. 4, 2025. (Saul Loeb/AFP via Getty Images)

The billionaire said he met with Epstein starting in 2011, years after Epstein had pleaded guilty in 2008 to soliciting a minor for prostitution. Gates said he was aware of some “18-month thing” that had limited Epstein’s travel but said he didn’t properly check his background. Gates said he continued meeting with Epstein even after his then-wife Melinda French Gates expressed concerns in 2013. 

Advertisement

“Knowing what I know now makes it, you know, a hundred times worse in terms of not only his crimes in the past, but now it’s clear there was ongoing bad behavior,” Gates told staff. Speaking of his ex-wife, he added: “To give her credit, she was always kind of skeptical about the Epstein thing.” 

Gates told staff on Tuesday that he continued meeting with Epstein through 2014, flew on a private jet with Epstein and spent time with him in Germany, France, New York and Washington. “I never stayed overnight,” he said, or visited Epstein’s island.

BILL GATES PLEDGES TO GIVE AWAY NEARLY ALL HIS WEALTH AND CLOSE HIS FOUNDATION IN 2045

He said Epstein “talked about the kind of intimate relationship he had with a lot of billionaires, particularly Wall Street billionaires,” and that he could help raise money for causes like global health. 

Advertisement

Gates said because Epstein had other prestigious people at these meetings, that “made it easier for me to feel like this was a normalized situation.” He said he realizes that his association with Epstein also helped the sex offender to burnish his reputation.

Gates admitted that his ties to Epstein and newly disclosed emails from the Justice Department files had cast a cloud over the Gates Foundation and its reputation.

BILL CLINTON COMES OUT SWINGING AGAINST COMER FOR REJECTING PUBLIC EPSTEIN HEARING: ‘STOP PLAYING GAMES’

“It definitely is the opposite of the values of the Foundation and the goals of the Foundation,” he said. “And our work is very reputational sensitive. I mean, people can choose to work with us or not work with us.”

Advertisement
Epstein and Maxwell

The Department of Justice released a trove of Epstein documents on Dec. 19 following President Trump’s signature on the Epstein Files Transparency Act in November 2025.  (Joe Schildhorn/Patrick McMullan via Getty Images)

A Gates Foundation spokesperson said Gates holds town halls twice a year and he “spoke candidly, addressing several questions in detail, and took responsibility for his actions.”

Among the recently disclosed emails were two messages Epstein sent to himself in July 2013 that appear to be drafts styled as a resignation letter from Gates’s then science adviser, Boris Nikolic. The second email referenced a Gates “marital dispute” and said the author had facilitated “illicit trysts.”

GET FOX BUSINESS ON THE GO BY CLICKING HERE

In the town hall, Gates opened up about his personal life. “I did have affairs, one with a Russian bridge player who met me at bridge events, and one with a Russian nuclear physicist who I met through business activities,” he told staff. 

Advertisement

Gates said that Nikolic, who was close to both Gates and Epstein, knew of those affairs and told Epstein about them. The physicist worked at one of Gates’s companies, though it is unclear if he had that affair while she was his employee.

The Journal earlier this month reported that Epstein inserted himself into negotiations related to Nikolic’s departure from Gates’s private office and dangled allegations that Gates had engaged in extramarital affairs when he put the exit deal together. In a statement, Nikolic previously told the Journal the July 2013 emails “were not written on my behalf or at my request.” 

Gates had an affair with a Russian bridge player and Epstein later appeared to use his knowledge to threaten Gates, the Journal reported in 2023. Gates met the woman around 2010, when she was in her 20s. Epstein met her in 2013 and later paid for her to attend software coding school. In 2017, Epstein emailed Gates and asked to be reimbursed for the course.

Bill Gates speaking.

Microsoft co-founder Bill Gates speaks at the Gates Foundation’s inaugural global Goalkeepers event in the Nordics, held in Stockholm, Sweden, on Jan. 22, 2026. (Stefan JERREVANG / TT News Agency / AFP via Getty Images)

CLICK HERE TO READ MORE ON FOX BUSINESS

Advertisement

In a July 4, 2013, email to Nikolic, Epstein wrote: “Bill risks going from richest man to biggest hypocrite, melinda a laughing stock, pledges will disappear as a result.” Epstein continued, naming two women with whom Gates had affairs, saying they “risk becoming overnight sensations.” 

Gates said in the town hall that 2014 was the last year he met with Epstein, though there were some “ancillary issues” Epstein brought up. “After that he continued to email me,” Gates said, adding that he didn’t respond.

Continue Reading

Business

Family Offers $1 Million Reward for Recovery Amid Ongoing Search

Published

on

Nancy Guthrie

The search for Nancy Guthrie, the 84-year-old mother of NBC “Today” show co-anchor Savannah Guthrie, entered its 25th day on February 26, 2026, with no major breakthroughs reported despite thousands of tips, extensive canvassing, and a newly announced family reward of up to $1 million for information leading to her recovery.

Nancy Guthrie
Nancy Guthrie

Savannah Guthrie posted a heartfelt video on Instagram on February 24, 2026, announcing the reward and expressing the family’s ongoing “agony” more than three weeks after her mother vanished from her Catalina Foothills home. “We still believe in a miracle, we still believe that she can come home — hope against hope,” Savannah said, fighting back tears. She acknowledged the grim possibility that her mother “may be lost” or “already be gone,” but urged the public to provide any information. “Someone knows how to find our mom and bring her home. Call 1-800-CALL-FBI — you can remain anonymous — or find a way to reach out to me.”

The family reward aligns with FBI criteria for payment and supplements the bureau’s existing offer of up to $50,000 for information leading to Nancy Guthrie’s recovery and the arrest of those responsible. Savannah also noted the family’s donation of $500,000 to the National Center for Missing and Exploited Children.

Nancy Guthrie was last seen on the evening of January 31, 2026, when her son-in-law dropped her off at her home after dinner. She failed to appear for a virtual church service the next morning, prompting family concern. Authorities believe she was abducted or taken against her will sometime in the early hours of February 1. Drops of her blood were found on the front porch, and her Nest doorbell camera was tampered with around 1:47 a.m., showing a masked, armed individual in a balaclava, gloves, and backpack approaching the door with a holstered weapon visible.

The FBI released black-and-white footage on February 10, 2026, depicting the suspect — described as male, 5’9″ to 5’10” tall, with an average build — carrying a 25-liter Ozark Trail “Hiker Pack” backpack. Sources told ABC News and other outlets on February 23-24 that some images show the suspect without the backpack or gun, suggesting he may have visited the property on a different day prior to the abduction. Pima County Sheriff Chris Nanos addressed the reports on February 24, stating that photos lack date or time stamps, making conclusions about multiple visits “purely speculative.”

Advertisement

On February 25, 2026, neighbor Aldine Meister spoke to Fox News Digital about spotting a “suspicious” young man walking in the neighborhood about two weeks before the disappearance. “He didn’t have your typical walking gear on, and he had his hat pulled really far over his eyes,” Meister said. “He was kind of younger, and he just didn’t look like he was going out for a walk. He just didn’t fit.” She contacted authorities after learning of the case.

Investigators have reviewed thousands of hours of surveillance footage from the Tucson area and requested additional video from neighbors, focusing on specific time frames in January. DNA analysis continues on evidence from the home, including gloves found miles away that did not match samples from the residence or national databases. The sheriff’s office has cleared all Guthrie family members, including Savannah and her siblings, as suspects.

The Pima County Sheriff’s Department announced it would limit public updates to significant developments, citing the high volume of tips overwhelming resources. “At this time, we will limit further updates to instances when new information warrants release,” spokesperson Angelica Carrillo stated.

The case has drawn widespread attention due to Savannah Guthrie’s prominence, with unverified reports of ransom demands in bitcoin sent to local media and TMZ. Officials have not confirmed any credible ransom communications. The quiet, affluent Catalina Foothills neighborhood has rallied with flowers and support outside the home, though the area’s spaced-out properties and limited surveillance have complicated efforts.

Advertisement

Savannah has made repeated emotional pleas, including videos expressing the family’s pain and urging tips. “We are aching for her,” she said in her latest post. The family remains hopeful despite the lack of progress, with investigators not ruling out multiple perpetrators.

Anyone with information is urged to contact the FBI at 1-800-CALL-FBI (1-800-225-5324) or tips.fbi.gov, or the Pima County Sheriff’s Department at 520-351-4900. Anonymous tips can also be submitted through 88-Crime.

As the investigation continues into its fourth week, the focus remains on forensic evidence, surveillance analysis, and public tips to resolve one of the most closely watched missing persons cases of 2026.

Advertisement
Continue Reading

Business

Atom Bank highlights efforts to help young people into top universities

Published

on

Business Live

The bank says it wants to support the next generation of innovators and leaders

Atom Bank has promoted its work around scholarships and schemes to support low income youngsters.

Atom Bank has distributed £13,250 to recipients of the Atom Futures Fund.(Image: Atom Bank)

Atom Bank says it has given more than £13,000 to help young people from low income homes, in the care system or with caring responsibilities go to top universities.

The Newcastle-based digital bank runs the Atom Futures Fund in partnership with County Durham charity Point North. It encourages and supports sixth form students to apply to Russell Group universities and is comprises a £250 financial incentive to eligible Year 13 students and a further £1,000 to those who receive and accept an offer from their chosen university.

Having supported 13 candidates with the initial grant, eight young people have now each received the further £1,000 sum. From this year, Atom says it intends to broaden the remit of the Futures Fund and to provide up to 20 initial and further grants – with applications due to open shortly.

Atom has also pointed to its work on next cohort of the AMI Durham University Women in Tech scholars scheme. The two female recipients of the scholarship – who come from low income backgrounds – receive a grant of £4,000 per year for all three years of the course, which could be a Computer Science or joint-honours programme with Computer Science at Durham University.

Advertisement

And through the EY Foundation Smart Futures, Atom offers a two week internship to year 12 students from low income backgrounds who are looking for experience prior to making their post-18 choices. Atom has agreed to expand the fully funded places – which include a stipend for the duration of the course – from six to eight.

Asli Ozgur, a successful AMI scholar recipient, said : “The AMI scholarship has enabled me to concentrate fully on my academic goals and make the most of my university experience. Atom bank’s support has made a meaningful difference to my journey, and I’m incredibly grateful for the opportunity. I’m excited to continue developing my skills and hope to inspire other students to believe in their potential and strive for success in their chosen fields.”

Edward Twiddy, ESG director at Atom bank, said: “Our investment in the Atom Futures Fund and our other programmes is a direct commitment to supporting the next generation of innovators and leaders. We are proud to back early career talent across the North East, ensuring a strong future pipeline of skills for Atom and a deepening talent pool across the region.

“The latest recipients of the Women in Tech Scholarships are already firmly embedded into their courses and all that Durham University has to offer. We’re delighted to be in a position to increase funding for the Smart Futures programme right now, and we hope to extend the Atom Futures Fund even further.

Advertisement

“Atom’s commitment to the Durham Maths School is the fourth pillar of our Social Investment Strategy, and this recently received a huge boost with confirmation from the Department for Education that establishment of the school remains a priority for central government. With a new industrial revolution coming fast to all sectors of the economy, we need as many companies as possible to be supporting the next generation to make full use of their talents.

“Only then will firms like ours and the North East continue to be a focus for the investment and productivity gains that we need to support all our futures.”

Continue Reading

Business

Smash Kitchen enters snack category

Published

on

Smash Kitchen enters snack category

The company’s new kettle chips are offered in four flavors.

Continue Reading

Business

Cravings by Chrissy Teigen expanding CPG line

Published

on

Cravings by Chrissy Teigen expanding CPG line

Company is bringing innovation to baking mixes and pasta sauces. 

Continue Reading

Business

John Lewis pulls out of housebuilding business

Published

on

John Lewis pulls out of housebuilding business

The retailer began expanding into housebuilding in 2020 but it is scrapping those plans to focus on retail instead.

Continue Reading

Business

Nightingale Land plans 85 homes in Congleton

Published

on

Business Live

Site neighbours land where another developer is planning 120 homes

An outline application has been submitted for 85 homes on land south of Sandbach Road at Congleton

An outline application has been submitted for 85 homes on land south of Sandbach Road, Congleton (Image: FPCR Environment & Design)

Plans have been submitted for up to 85 homes in the open countryside at Congleton on fields next to land where 120 dwellings are also proposed.

Advertisement

Nightingale Land has applied for outline permission to bulldoze existing farm outbuildings on the site south of Sandbach Road and build up to 85 homes, including 30 per cent affordable.

It is next to land which is the subject of a separate planning application from Richborough Estates for up to 120 homes.

The Richborough application has not yet been determined by the council.

A planning statement submitted by Lane Town Planning on behalf of the Nightingale Land application, states: “The scheme could accommodate a range of house sizes and types in accordance with the council’s strategic housing market assessment.”

Advertisement

It adds that, as a direct consequence of the pre-application consultation exercises, the proposed development has been reduced from 100 homes to 85 homes.

Access to the new site is proposed from Sandbach Road by way of a priority junction.

The document says the scheme would include significant areas of public open space and the retention and enhancement of natural habitat around the existing hedgerow areas as well as orchard tree planting.

It would also include an equipped children’s play area, trim trails and play features along walking routes within green corridors.

Advertisement

Existing public rights of way crossing the site would also be retained and there would be new walking paths around the site.

The planning document states: “Market dwellings will be delivered by private house builders, with affordable housing either provided by, or in partnership with, a registered provider.

“Following a grant of consent, the site would be marketed immediately and sold as expeditiously as possible to one or more house builders who would submit the requisite reserved matters application(s).”

It adds it is anticipated the development of the site would take around 3.3 years to complete.

Advertisement

At the time of writing there has been one objection posted on the planning portal on Cheshire East Council’s website.

The objector says: “This proposal follows a recent application for 120 houses in the same vicinity, which would result in a cumulative total of approximately 200 new dwellings.

“If approved, this would have severe adverse impacts on local traffic, biodiversity, green infrastructure, and the character of the area.”

The application, number 26/0303/OUT, can be viewed on the planning portal on the council’s website.

Advertisement

The last date for submitting comments is March 12.

Continue Reading

Business

Form 13G Templeton Emerging Markets Fund For: 25 February

Published

on


Form 13G Templeton Emerging Markets Fund For: 25 February

Continue Reading

Business

Tesco to cut 180 jobs within its head office

Published

on

Tesco to cut 180 jobs within its head office

Chief executive Ken Murphy says Tesco must be “efficient and agile” to compete.

Continue Reading

Business

Ingredient that replaces eggs receives kosher certification

Published

on

Ingredient that replaces eggs receives kosher certification

Umami United offers ProBake Binder.

Continue Reading

Trending

Copyright © 2025