So IREN stock decided to go full rocket ship yesterday, shooting up 15% because… well, nobody really knows. The internet’s convinced Amazon is about to slide into IREN’s DMs with a partnership deal, but here’s the thing: it’s basically just really expensive gossip at this point.
Let me break this down for you without the Wall Street word salad.
The Plot Twist Nobody Saw Coming
IREN used to be that friend who was really into Bitcoin mining – you know, the one with the loud computer setup in their garage. But then they had their glow-up moment and pivoted to AI infrastructure. Smart move, honestly. Instead of riding the crypto rollercoaster, they’re now building the digital highways that power artificial intelligence.
Think of them as the construction crew for the AI boom. While everyone’s arguing about which AI will take over the world, IREN’s quietly building the power plants and data centers that keep the robots running.
Why Everyone’s Losing Their Minds Over Amazon
Here’s where it gets juicy. Back in November, IREN scored a massive $9.7 billion deal with Microsoft. That’s “buy a small country” money. So naturally, investors are thinking: if Microsoft wants in, why not Amazon?
The conspiracy theorists are having a field day with the “evidence”:
- IREN’s building data centers in Texas, where Amazon has a huge presence
- Their earnings call is scheduled for the same day as Amazon’s (Feb 5) – coincidence? They think not
- Amazon’s cloud division needs to add 4-5 gigawatts of capacity this year (that’s a lot of digital juice)
Plus, another ex-Bitcoin miner called Cipher Mining already locked in a $5.5 billion deal with Amazon’s AWS. So the precedent is there.
The Reality Check
Here’s the uncomfortable truth: there’s zero actual proof of an Amazon deal. Nada. Zilch. This 15% pop is basically the stock market equivalent of buying lottery tickets because you had a “feeling.”
But – and this is a big but – IREN might actually be worth your attention anyway.
They’re targeting $3.4 billion in AI revenue by the end of 2026, planning to expand to 140,000 GPU units (that’s serious computing power), and they’ve got 2,910 megawatts of secured power capacity. In a world where everyone’s fighting over electricity to run AI, having your own power source is like owning beachfront property.
The Bottom Line
Should you buy IREN because of Amazon rumors? Absolutely not. That’s like dating someone because your friend thinks they might be interested.
Should you consider IREN because they’re positioned in a trillion-dollar industry with actual contracts and a solid business model? Now we’re talking.
The AI infrastructure play is real, the demand is massive, and IREN seems to have figured out the game. Just don’t buy it expecting Jeff Bezos to call tomorrow. Buy it because sometimes the best investments are the ones building the boring stuff that makes the exciting stuff possible.