IREN Limited (NASDAQ:IREN) experienced a surge in its stock price by 23.56 percent, hitting a new all-time high following impressive earnings and partnership news with Nvidia Corp. Revenues grew by 167.6 percent to $501 million, with Bitcoin mining contributing $484.6 million. The company also secured a Preferred Partner status from Nvidia Corp.

IREN Limited (NASDAQ:IREN) reached a new 52-week high of $29.5 on Friday, up 28 percent from the previous close, ending the day at $26.48. The company swung to profitability, recording $86.9 million in net income for 2025, up from a $28.9 million loss the year before. Revenues from AI cloud services surged by 429 percent to $16.4 million.

Investors are optimistic about IREN as an investment, but some believe other AI stocks offer greater potential returns with less downside risk. The company recently procured 1,200 air-cooled B300 chips and 1,200 GB300s from Nvidia Corp., expanding its GPU fleet to 10,900 GPUs. For more information on short-term AI stocks, refer to Insider Monkey’s free report.

Read more at Yahoo Finance: IREN Ltd. (IREN) Hits New Record High on Stellar Performance