Bernstein: IREN Stock Drop Linked to AI Deal Absence, Not Earnings

Analysts at Bernstein believe the recent decline in IREN's stock price stems from a lack of AI partnerships, rather than earnings performance.

According to analysts from Bernstein, the recent selloff of IREN's stock is attributed more to the absence of a significant AI deal rather than the company's earnings results. The firm pointed out that as IREN intensifies its focus on artificial intelligence, the volatility associated with bitcoin has diminished in its importance as a cornerstone of the investment narrative.