Iren Announces New Cloud-Computing Deal, Stock Rises Post-Selloff

• Iren announced a new cloud-computing deal.
• The company noted that much of its backlog is tied to investment-grade counterparties.
• Iren's stock increased following a significant selloff.
• The deal is part of the intensifying race to build the physical backbone of artificial intelligence.
• Investors are considering Iren and Applied Digital for digital infrastructure exposure.