Iren Limited (IREN +5.29%) is racing to scale its AI Cloud capacity, and the Microsoft contract could be the catalyst that turns this former Bitcoin miner into a real contender in AI infrastructure. I break down the GPU ramp, the funding moves, and what must go right for the upside case to play out, as well as the risks that could surprise investors.
Stock prices used were the market prices of Jan. 1, 2026. The video was published on Jan. 5, 2026.






