IREN is a bullish long-term play due to strengthening AI infrastructure thesis (Microsoft/Nvidia contracts), despite short-term earnings risks.

Number two, the heaviest stock that I bought yesterday happened right after their earnings report, and they had terrible earnings, and so the stock dropped a bunch overnight, and dropped even more the next morning, on Friday morning.

And so I told my school group on Thursday, when I saw that drop after hours, that on Friday morning, I'd be buying as long as the price was at the price that I told them. And it actually opened up right at what I said, and then dropped even further.

So I actually bought twice yesterday, and it was cool to see a lot of my school group was prepared, and those of them that did the research and thought that that was good for their portfolio, bought in as well.

And I think long-term, this is going to be a very good play.

Now, yes, I ran did drop after earnings, and they did have a pretty bad earnings report, but what you don't see there is that they're transitioning. They're transitioning from their old Bitcoin mining equipment over to this new AI style.

And so yes, of course, there's going to be a net loss. I think they had like a seven hundred million-dollar net loss. But overall, I'm pretty bullish on what could happen here.

The numbers I'm watching are the $128.8 million in 2026 AI cloud revenue, nearly eight times last year. 70 million of that 70 million dollars of AI revenue in Q4 alone, roughly one billion dollars of current operating AI ARR, and approximately four billion dollars of contracted 2026 ARR.

I ran also has a major multi-year Microsoft contract, Nvidia exemplar cloud status for its GB300 deployment, and it secured billions in GPU financing and customer prepayments to help fund the massive buildout.

There's obviously still a bunch of risk, and so I wouldn't just buy because it dropped. That's never a good idea. You could be catching a falling knife, but I'm buying specifically because the underlying AI infrastructure thesis continues to strengthen.

I will say one more time, this is a higher risk, but possible higher reward investment, so do your own research.