IREN Ltd. (IREN) Soars 28% to New High on Nvidia Preferred Partner Status

We recently published 10 Stocks Skyrocket While Wall Street Sinks; 5 Quietly Hit New Record Highs. IREN Limited (NASDAQ:IREN) is one of the top performers on Friday.

IREN Limited (NASDAQ:IREN) surged to a new record high on Friday, as investors cheered its stellar earnings performance and addition to Nvidia Corp.’s list of preferred partners.

During the session, IREN Limited (NASDAQ:IREN) soared to a new 52-week high of $29.5, or 28 percent higher than its previous close, before trimming gains to end the day just up by 14.93 percent at $26.48 apiece.

This followed the company’s announcement that it swung to a net income of $86.9 million in the full fiscal period of 2025, a reversal from the $28.9 million net loss a year earlier.

Total revenues expanded by 167.6 percent to $501 million from $187.2 million year-on-year, with Bitcoin mining contributing the largest chunk, at $484.6 million, or 163 percent higher than the $184.1 million a year ago.

Revenues from AI cloud services, on the other hand, surged by 429 percent to $16.4 million from $3.1 million in the same comparable period.

In another development, IREN Limited (NASDAQ:IREN) said it secured a Preferred Partner status from Nvidia Corp. following the procurement of 1,200 air-cooled B300 chips and 1,200 GB300s for approximately $168 million. This effectively expanded its GPU fleet to 10,900 NVIDIA GPUs.

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Disclosure: None. This article is originally published at Insider Monkey.