IREN Secures Anthropic Cloud Service Deal, Stock Surges Nearly 9% to Lead Computing Sector

TradingKey - Anthropic Signs Cloud Services Agreement with IREN, Sending IREN Stock Surging Nearly 9%

According to an October 12 report by The Information, AI computing and neocloud provider IREN (IREN) finalized a multi-year AI cloud services agreement with AI giant Anthropic, driving its stock price up 8.75% in overnight trading and leading the U.S. computing power sector. During the same period, Nebius Group (NBIS) and CoreWeave (CRWV) and other computing stocks rose by only about 1%.

IREN stock price chart, Source: TradingView

In August of this year, IREN revealed in its financial report that it had reached a partnership with a top frontier AI lab, but did not disclose the specific name. It has now been confirmed that the partner is Anthropic. This move demonstrates IREN's commercial delivery and operational capabilities for high-performance AI computing centers (HPC) and further validates strong market demand for third-party AI infrastructure.

Anthropic's multi-year cloud computing agreement with IREN provides a significant positive boost to Anthropic's own initial public offering (IPO) and public market valuation. Beyond relying on hyperscale public clouds such as Amazon (AMZN) and Google (GOOG), bringing in IREN enables Anthropic to lock in large-scale GPU clusters with greater flexibility and cost-effectiveness, ensuring business growth before and after its IPO is not stalled by computing power shortages.

From an operating cost perspective, leasing computing power from neoclouds like IREN, which have their own power supply and data centers, helps control massive R&D and operating expenses. Public market investors evaluating this AI unicorn's IPO focus most on its loss reduction and gross margin. A more cost-effective computing procurement structure improves its unit economics, offering public market investors more attractive financial metrics.