IREN jumps as $625 million Mirantis buyout boosts AI cloud expansion narrative
IREN•IREN shares rose after the company agreed to buy Mirantis in an all-share deal valued at about $625 million, deepening its AI cloud software and operations stack. The move also comes ahead of IREN’s Q3 FY26 results and conference call scheduled for May 7, 2026 at 5:00 p.m. ET.
1. What’s moving the stock
IREN is trading higher after announcing a definitive agreement to acquire Mirantis, a cloud infrastructure and Kubernetes orchestration provider, in a transaction to be paid in ordinary shares valued at approximately $625 million at signing. The acquisition adds software tooling and enterprise support capabilities that can help IREN deploy, manage, monitor, and support customer workloads as it scales AI cloud services. (globenewswire.com)
