On May 29, IREN Ltd declined 5.02% in regular trading, trading at $60.95 per share with trading volume of approximately $809 million. The stock has now given back gains from earlier in the week when it surged on the announcement of a $1.6 billion Blackwell system purchase from Dell.

On the news front, IREN reportedly borrowed approximately $3.6 billion this month to help fund a purchase of Nvidia graphics processing units to be used by Microsoft at a Texas data center. While the company has secured major contracts — including a $9.7 billion agreement with Microsoft and up to $2.1 billion in investment from Nvidia — the scale of borrowing has raised concerns about financial leverage and execution risk. Some analysts have expressed caution regarding the company's debt levels as it aggressively scales AI infrastructure.

The decline follows a 5.44% drop on May 28, suggesting sustained selling pressure despite the broadly positive strategic developments. The stock had previously risen over 50% year-to-date on its transformation from bitcoin mining to AI data center operations.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)