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IREN Stock Surges 8% as Bitcoin Miner Turns AI Cloud Powerhouse With 150,000 GPU Expansion Push

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UiPath

NEW YORK — IREN Ltd. shares jumped more than 8% in morning trading Friday, climbing to $40.21 as investors embraced the former Bitcoin miner’s aggressive pivot into artificial intelligence infrastructure, highlighted by plans to scale its GPU fleet to 150,000 units and target billions in annualized AI cloud revenue.

IREN Limited
IREN Limited

The Sydney-based company, listed on Nasdaq as IREN, added $3.15, or 8.50%, by 11:20 a.m. EDT. The rally reflected renewed enthusiasm for IREN’s transformation from a renewable-powered Bitcoin miner into a high-performance computing and AI data center operator, leveraging its massive secured power portfolio amid surging demand from hyperscalers.

IREN, formerly known as Iris Energy, has rapidly expanded its data center footprint across North America. It now controls more than 4.5 gigawatts of secured grid-connected power, with approximately 810 megawatts already operational and additional capacity under construction or in development at sites including Sweetwater and Childress in Texas, Mackenzie in British Columbia, and a new 1.6GW campus in Oklahoma.

The company’s latest move came in early March 2026 when it announced purchase agreements for more than 50,000 NVIDIA B300 GPUs, bringing its total committed fleet to 150,000 GPUs. Management projects this scale could support over $3.7 billion in AI cloud annualized run-rate revenue by the end of 2026, with phased deployments planned across existing air-cooled capacity in Mackenzie and Childress during the second half of the year. Some estimates suggest even higher potential if additional liquid-cooled expansions come online.

This AI push builds on a landmark multi-year agreement with Microsoft announced late last year, valued at approximately $9.7 billion for 200 megawatts of AI cloud capacity. The deal included upfront payments and has served as a blueprint for further hyperscaler engagements. IREN has secured significant financing, including $3.6 billion tied to the Microsoft contract and nearly $9.3 billion in total funding commitments over recent months, with an at-the-market equity program established to support further capital needs.

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Bitcoin mining remains an important cash-flow engine during the transition. In its fiscal second-quarter 2026 results released Feb. 5, IREN reported revenue of about $184.7 million, though it missed some analyst expectations amid fluctuating crypto prices and investment in growth. The company has achieved operating hashrates around 43 EH/s to 50 EH/s in recent periods, mining hundreds of Bitcoin monthly while maintaining a focus on 100% renewable energy sources.

Analysts have grown increasingly optimistic about the dual-engine strategy. Some price targets reach as high as $80 or more, citing the massive upside from AI infrastructure if IREN successfully monetizes its power pipeline. Bernstein and H.C. Wainwright have highlighted the stock as a top AI play for 2026, noting its ability to repurpose mining infrastructure for high-density GPU workloads with lower build times than traditional data centers.

The pivot addresses a critical bottleneck in the AI boom: reliable, scalable power. Hyperscalers face years-long waits for new grid connections, while IREN’s pre-secured sites in renewable-rich or low-cost energy regions offer faster deployment. Sites like Sweetwater, with a 2GW potential across more than 1,800 acres, are designed for both Bitcoin mining and liquid-cooled AI clusters capable of hosting hundreds of thousands of advanced GPUs.

In February 2026, IREN appointed John Gross as chief innovation officer to accelerate its AI and high-performance computing initiatives. The company was also added to the MSCI USA Index, potentially drawing increased institutional investment from passive funds.

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Challenges accompany the ambitious growth. Recent equity offerings and capital raises have led to share dilution concerns, contributing to volatility. The stock has pulled back from earlier 2026 highs near $76 amid broader market swings in crypto and AI-related names, though it remains up dramatically over the past year on the AI narrative. Q2 FY26 results showed a net loss as the company invested heavily in expansion, with next earnings expected around May 13.

Gross margins and profitability will face pressure during the heavy capex phase, including roughly $3.5 billion in additional spending targeted for the second half of 2026. Execution on GPU deployments, securing additional hyperscaler contracts and navigating regulatory or grid timelines will be critical. Competition is intensifying as other former miners and pure-play data center operators vie for AI workloads.

Despite near-term hurdles, IREN’s vertically integrated model — owning land, power infrastructure and now GPU capacity — positions it to capture higher-margin recurring revenue from AI cloud services compared to traditional mining. Its data centers support flexible use cases, with some facilities already running Bitcoin miners and AI servers side-by-side during the transition.

The broader sector tailwinds are powerful. Global electricity demand from AI data centers is projected to surge, with power availability emerging as the primary constraint. Companies like IREN that can deliver gigawatts of ready infrastructure stand to benefit significantly. Recent peer deals, such as large GPU capacity agreements with Microsoft, have reinforced investor belief in the model’s scalability.

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IREN continues to advance physical development. Sweetwater 1 energization is imminent or advancing, with substation and civil works progressing. Horizon projects in Texas and expansions in Canada are on schedule, supporting both current mining operations and future AI buildouts. The company emphasizes sustainable practices, using renewable energy to appeal to environmentally conscious tech clients.

Founded in 2018 with a focus on sustainable Bitcoin mining, IREN has evolved into a next-generation digital infrastructure provider. Its operational expertise in large-scale data centers, combined with low-cost power contracts, gives it a competitive edge in the race to power AI.

Friday’s trading volume appeared strong as the stock tested recent resistance levels following days of AI sector momentum. Technical observers noted potential for continued upside if positive updates on deployments or new customer wins emerge.

As IREN prepares for its fiscal third-quarter results in May, attention will focus on hashrate trends, AI revenue progress, GPU deployment timelines and any commentary on additional financing or contracts. Management has signaled that 2026 will be a pivotal “year of proof” for the AI strategy.

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For investors, IREN represents a high-risk, high-reward bet on the convergence of cryptocurrency infrastructure and artificial intelligence. While Bitcoin mining provides near-term cash flow, the real upside lies in transforming stranded or underutilized power assets into premium AI compute capacity.

With over 4.5GW of potential and a clear roadmap to hundreds of thousands of GPUs, IREN is positioning itself as a key enabler in the AI revolution. Whether it can deliver on its lofty revenue targets amid execution and dilution risks will determine if the stock’s recent surge marks the start of a new growth chapter or another volatile chapter in its transformation story.

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FBI DNA Probe and Ransom Notes Spark New Hope

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Savannah Guthrie & Nancy Guthrie

TUCSON, Ariz. — The search for Nancy Guthrie, the 84-year-old mother of NBC “Today” show co-anchor Savannah Guthrie, stretched into its fourth month Sunday with authorities confirming the investigation remains active but no arrests made and her whereabouts still unknown in what officials describe as a targeted abduction from her Catalina Foothills home.

Savannah Guthrie & Nancy Guthrie
Savannah Guthrie & Nancy Guthrie

Pima County Sheriff Chris Nanos has repeatedly stated that evidence at the scene, including blood spatter on the porch and signs of forced entry, points to an abduction rather than a voluntary disappearance. Guthrie was last seen late Jan. 31, with her Bluetooth-enabled pacemaker disconnecting around 2:30 a.m. Feb. 1, suggesting she was taken from her residence in the Tucson suburb.

The case has captivated national attention due to Savannah Guthrie’s prominence and the unusual elements surrounding her mother’s vanishing. Multiple ransom-style notes sent to media outlets, including TMZ, demanded Bitcoin and claimed knowledge of Guthrie’s location or captor, though authorities have not confirmed their authenticity or connection to the perpetrator. One note allegedly referenced details only the abductor would know.

Savannah Guthrie and her family have offered a $1 million reward for information leading to Nancy’s safe recovery, while expressing cautious hope amid the prolonged uncertainty. “Someone knows how to find our mom and bring her home,” the family has stated publicly, urging tips to the FBI.

The FBI joined the investigation early, providing resources for forensic analysis. Recent developments include advanced DNA testing on evidence recovered from the home, including items like gloves found nearby. Some samples have led to dead ends, such as DNA linked to unrelated individuals like restaurant workers, while other testing continues.

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Doorstep camera footage released by investigators shows a masked individual approaching the home on the night of the disappearance, heightening the sense of a deliberate act. Profilers have speculated the kidnapping could involve personal retribution linked to Savannah Guthrie’s public profile, possibly by a stalker unable to reach the journalist directly.

No specific suspects have been publicly named, though authorities have detained and released several persons of interest during extensive searches near the home and surrounding desert areas. Thousands of tips have poured in, exceeding 30,000 according to sources, with law enforcement sifting through each for credibility.

The case’s high visibility has drawn volunteer search efforts and offers from groups like the Cajun Navy, though coordination with official teams remains key. Drones, K-9 units and ground searches have covered significant terrain around Catalina Foothills without locating Guthrie. Her pacemaker data and other digital breadcrumbs have been analyzed but yielded limited breakthroughs so far.

Legal experts and former FBI agents describe the ransom communications as atypical, noting they were directed to media rather than the family directly. This has complicated verification efforts while keeping the case in the spotlight. One individual faces charges related to a separate ransom text scheme, with a trial date set, but connections to Guthrie’s disappearance remain unconfirmed.

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Nancy Guthrie, a widow since 1988, lived independently in the Tucson area. She raised three children, including Savannah, and maintained close family ties. Her sudden disappearance from a seemingly secure neighborhood has shaken the community and raised broader questions about safety for high-profile families.

Savannah Guthrie returned to “Today” after an initial absence, speaking emotionally about the ordeal while asking for privacy and tips. Colleagues and viewers have expressed support, with the network providing updates when appropriate. The family’s pain underscores the human toll of such mysteries, even as public interest sustains pressure for resolution.

Criminologists note similarities to other stranger abductions but highlight unique aspects, including the victim’s age and the ransom notes’ media focus. Profilers suggest a possible lone actor motivated by financial gain or grudge, though evidence remains circumstantial. The lack of a body or clear motive keeps all scenarios open, from kidnapping for ransom to foul play.

Pima County authorities continue coordinating with federal partners. “The investigation into the disappearance of Nancy Guthrie remains active and ongoing,” a sheriff’s spokesperson told media outlets. Residents in the area report increased patrols and neighborhood watch activity as vigilance stays high.

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The prolonged search enters a phase where some cases risk going cold, yet officials emphasize no leads are being discounted. Advanced forensic techniques, including enhanced DNA genealogy, offer hope for breakthroughs in the coming weeks. Public tips remain crucial, with anonymity options available through the FBI.

As days turn to months, the Guthrie family navigates an unimaginable wait. Nancy’s grandchildren and loved ones hold onto hope for her return, while the broader true-crime community follows developments closely. The case serves as a stark reminder of vulnerability, even in quiet suburbs, and the enduring power of media attention in missing persons investigations.

Authorities urge anyone with information to contact the FBI at 1-800-CALL-FBI or submit tips online. The $1 million family reward applies under specific criteria for recovery. As the investigation presses forward, the focus remains on bringing Nancy Guthrie home and delivering answers to her family.

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Home Structures and 1960s Vibes Crack Tough Categories

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Nancy Guthrie

NEW YORK — Puzzle enthusiasts tackling The New York Times Connections on Sunday, May 3, 2026, navigated a clever mix of domestic architecture, counterculture history and revolutionary themes to solve No. 1057, with many praising the puzzle’s blend of straightforward and tricky groupings that tested lateral thinking without overwhelming frustration.

The New York Times Connections
The New York Times Connections

The popular word-grouping game, which challenges players to sort 16 words into four themed categories of four words each, delivered another engaging daily brain teaser. Today’s solution featured categories ranging from everyday home features to iconic gestures, providing satisfying “aha” moments for solvers who spotted the connections.

**Yellow (Easiest):** Home Structures — Garage, House, Porch, Shed. This accessible category rewarded players who scanned for obvious building-related terms early, forming a solid foundation for the solve.

**Green:** Associated With 1960s Counterculture — Acid, Commune, Free Love, Hippie. The puzzle nodded to a transformative era in American history, linking terms tied to peace movements, communal living and social experimentation.

**Blue:** Famous Revolutions In History — French, Green, Industrial, Sexual. This category required broader knowledge, connecting political, agricultural, economic and social upheavals that reshaped societies.

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**Purple (Hardest):** Gestures Made With The Index And Middle Fingers — Air Quotes, Bunny Ears, Fingers Crossed, Peace. The trickiest group delighted solvers with its focus on hand signals, from sarcastic quotation marks to hopeful wishes and anti-war symbols.

Connections, created by Josh Wardle and now part of The New York Times Games portfolio alongside Wordle and Strands, has surged in popularity since its debut. Players receive 16 words and must deduce the shared themes, with color-coded difficulty levels from yellow (simplest) to purple (most challenging). Mistakes cost lives, adding gentle pressure to the morning ritual.

Many players reported starting strong with the home structures group before pivoting to the counterculture cluster. The revolutions category sparked discussion online, as “Green” cleverly referenced the agricultural Green Revolution rather than environmentalism alone. The purple gestures provided a fun, visual close for those reaching the end with lives intact.

Social media platforms buzzed with shared grids and strategies as users compared solve times and mistake tallies. Some celebrated perfect games, while others laughed about initially grouping “Acid” with cleaning products or “Peace” with home-related calm. The puzzle’s balance struck a chord, offering intellectual stimulation without excessive obscurity.

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For newcomers, Connections rewards pattern recognition and flexible thinking. Experts advise scanning the full list first, then isolating obvious clusters like proper nouns or repeated themes. Eliminating confirmed groups narrows possibilities quickly. Today’s puzzle exemplified strong design, with misdirection that felt fair rather than punitive.

The game complements other NYT offerings, creating a daily puzzle habit for millions. Subscribers access archives and additional features, but the core experience remains free, broadening its reach across demographics. Families tackle it together, offices compete informally, and solo solvers enjoy quiet mental workouts.

Puzzle 1057 arrived on a weekend when many sought light distractions amid spring activities. Its historical and cultural nods added educational value, prompting some players to research the Green Revolution or 1960s movements after solving. Such depth elevates Connections beyond mere wordplay into a gateway for broader curiosity.

Difficulty varies daily, but consistent play builds skill. Regulars develop instincts for common category types: synonyms, homophones, brand names, pop culture references or double meanings. Today’s mix tested vocabulary, history and cultural awareness in equal measure.

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Community forums and hint sites provide support without full spoilers for those stuck. Strategies include noting word lengths, parts of speech and potential puns. Players also track personal statistics like win streaks and average mistakes, turning the daily puzzle into a personal challenge.

The New York Times curates Connections carefully to maintain freshness and inclusivity. Editors avoid overly niche or sensitive topics while ensuring diversity in themes. This approach sustains long-term engagement, as evidenced by growing player numbers and enthusiastic online discourse.

As solvers wrapped up May 3’s grid, attention turned to future puzzles and related games. Many paired Connections with Wordle and the Mini Crossword for a complete morning mental reset. The interconnected NYT Games ecosystem creates a cohesive experience that rewards curiosity and consistency.

For those who found today’s purple category elusive, the finger gestures theme highlighted everyday nonverbal communication’s richness. “Fingers Crossed” for luck, “Peace” signs, “Bunny Ears” pranks and “Air Quotes” sarcasm all rely on the same two fingers, demonstrating clever thematic unity.

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Connections continues evolving as part of the broader puzzle renaissance. Its success reflects a cultural appetite for accessible yet engaging challenges in a fast-paced digital world. Whether solved in minutes or after multiple attempts, each puzzle delivers accomplishment and a small connection to a global community of players.

Looking ahead, fans anticipate varied themes in upcoming editions, from sports to science to seasonal references. The May 3 puzzle’s blend of domestic simplicity and historical depth exemplified why so many return daily: it entertains, educates and unites through shared problem-solving.

As the sun sets on another successful Connections day, players recharge for tomorrow’s fresh grid. In the realm of word games, few match the satisfying click of four perfectly connected words falling into place under their proper colorful banners. Puzzle 1057 delivered exactly that for thousands worldwide.

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May The Fourth Be With Palantir Stock (Earnings Preview) (NASDAQ:PLTR)

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The Market Is Offering Palantir Stock On A Golden Platter (NASDAQ:PLTR)

This article was written by

Amrita runs a boutique family office fund in beautiful Vancouver, where she leads the investment strategy for the family fund. The fund’s objective is to invest capital in sustainable, growth-driven companies that maximize shareholder equity by meeting their growth-oriented goals. In addition, she also started her own award-winning newsletter, The Pragmatic Optimist which focuses on portfolio strategy, valuation, and macroeconomics in concert with her husband Uttam Dey who is also a contributor on Seeking Alpha. Prior to cofounding her fund, Amrita worked for 5 years in high-growth supply-chain start-ups in downtown San Francisco, where she led strategy. During her time in the Bay Area, she also worked with venture capital firms and start-ups, where her efforts led her to grow the user acquisition business. During this time, she was introduced to investment portfolios and was able to maximize returns for clients during the pandemic. The cornerstone of Amritas work rests on democratizing financial literacy for everyone and breaking down financial jargon and complex macroeconomic concepts into formats that are easily digestible but more empowering than the typical investment thesis. Her newsletter has been featured as the Top Newsletter in Finance on popular newsletter platforms and she aims to bring her ideas to Seeking Alpha as well.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of PLTR, MSFT, META, AMZN, NOW either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Nvidia’s pivot to physical AI ignites rally across Asian supply chain

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Man charged over death of Australian Indigenous girl that sparked outback riots

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Man charged over death of Australian Indigenous girl that sparked outback riots


Man charged over death of Australian Indigenous girl that sparked outback riots

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Japan’s Katayama mum on suspected FX intervention amid Golden Week

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Japan’s Katayama mum on suspected FX intervention amid Golden Week

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Taiwan president defiant as begins Eswatini trip; China calls him a ’rat’

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Taiwan president defiant as begins Eswatini trip; China calls him a ’rat’


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Harley-Davidson recalls nearly 90,000 motorcycles over oil ejection risk

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Harley-Davidson recalls nearly 90,000 motorcycles over oil ejection risk

Harley-Davidson is recalling nearly 90,000 motorcycles due to a defect that could cause oil to eject and increase the risk of injury, federal regulators said.

The recall covers 88,039 motorcycles, including certain 2024–2026 FLTRX and FLHX models, 2025–2026 FXBR and FLFB models, and other select bikes equipped with an airbox baseplate, part number 29000373, according to the National Highway Traffic Safety Administration (NHTSA).

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The issue stems from a breather port that may become blocked, allowing pressure to build inside the crankcase.

If the dipstick is removed while the crankcase is pressurized, oil could be ejected from the fill spout, posing an injury risk, the agency said.

FORD RECALLS OVER 179,000 BRONCO AND RANGER VEHICLES OVER SEAT DEFECT

Harley Davidson

Harley-Davidson is recalling nearly 90,000 bikes over a defect that could cause oil to eject and increase the risk of injury, regulators said. (iStock / iStock)

Dealers will inspect the breather ports and repair any blockages free of charge.

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Notification letters are expected to be mailed to owners by May 11, the NHTSA said.

Ticker Security Last Change Change %
HOG HARLEY-DAVIDSON INC. 24.48 +0.59 +2.47%

Motorcycle owners can contact Harley-Davidson customer service at 1-800-258-2464 with questions.

MAJOR INVESTOR IN HARLEY-DAVIDSON WANTS CEO, TWO OTHERS REMOVED FROM THE BOARD

harley davidson

Harley-Davidson is recalling tens of thousands of motorcycles over a safety issue. (Artur Widak/NurPhoto via Getty Images / Getty Images)

The recall comes after the company announced a separate recall last month of nearly 17,000 motorcycles over a potential brake failure issue that could increase crash risk.

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That recall included certain Harley-Davidson FXLRS, FXLRST, FXBB and FLHC models produced between October 2024 and March 2026.

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Harley-Davidson logo is seen near the store

Harley-Davidson logo is seen near the store in Krakow, Poland on January 24, 2024. (Photo by Jakub Porzycki/NurPhoto via Getty Images)  (Jakub Porzycki/NurPhoto via Getty Images / Getty Images)

The issue was first flagged in March following a report of inoperable brakes on a 2025 FXLRST model, according to the NHTSA.

FOX Business has reached out to Harley-Davidson for comment.

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FOX Business’ Landon Mion contributed to this report.

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Motor racing-Miami F1 Grand Prix brought forward by three hours to beat storm threat

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Motor racing-Miami F1 Grand Prix brought forward by three hours to beat storm threat


Motor racing-Miami F1 Grand Prix brought forward by three hours to beat storm threat

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S&P 500, Nasdaq Climb to New Highs

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Stocks Fall After Trump Picks Kevin Warsh as Next Fed Chair

S&P 500, Nasdaq Climb to New Highs

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