TLDR
- IREN stock rose 5% in premarket trading Monday after The Information reported a multi-year AI cloud deal with Anthropic.
- Another report put the overnight gain at 8%. Neither company has confirmed the deal.
- The report says Anthropic uses bitcoin miners like IREN, Hut 8, TeraWulf and Nscale to expand computing capacity.
- IREN told investors in August it signed a deal with an unnamed “leading frontier AI lab.”
- SemiAnalysis criticized IREN’s legacy British Columbia data centers last week.
IREN (IREN) stock jumped 5% in premarket trading on Monday. The move followed a report from The Information that the company has signed a multi-year AI cloud services deal with Anthropic.
Overnight trading on Sunday looked even stronger. Stocktwits reported a gain of about 8% late Sunday after the news broke.
Neither IREN nor Anthropic has commented on the report. The deal remains unannounced.
Anthropic has reportedly signed a multiyear cloud deal with $IREN, according to The Information.
IREN disclosed a contract with an unnamed “leading frontier AI lab” in August.
The report suggests Anthropic could be that customer, although IREN has not confirmed the connection. pic.twitter.com/Ec5IyK07lH
— Wall St Engine (@wallstengine) October 12, 2026
The Information said people familiar with the relationship described the agreement. The report did not give a dollar value or a start date.
The Mystery Customer Gets a Name
Investors have been guessing at the identity of one IREN customer for weeks. In August, CEO Daniel Roberts spoke about new multi-year cloud contracts on the fiscal fourth-quarter earnings call.
He named Cohere, Prometheus, Perplexity, Figure AI, Fal AI and Higgsfield AI. He also mentioned “a leading frontier AI lab whose name we’re not able to disclose just yet.”
The new report points to Anthropic as that customer. That link has not been confirmed by either side.
The Information’s piece looked at the economics of Anthropic’s data center leases. It said the AI lab is pushing its cloud partners to build new sites faster.
Anthropic already relies on large providers such as Amazon and Google. The report said adding IREN lets it lock in large clusters of GPUs with more flexibility and at lower cost.
Anthropic’s push for more computing capacity increasingly depends on current and former bitcoin miners. The report named Hut 8, TeraWulf, IREN and Nscale.
The report also tied the deal to Anthropic’s planned initial public offering. It said access to computing power helps keep growth on track before and after the listing.
Renting capacity from firms that own their power supply and data centers can also hold down research and operating costs. The report said buyers of Anthropic stock would focus on its losses and its gross margin, and that cheaper computing could help both.
Questions Over Legacy Sites
The rally comes after a rough week for IREN. The stock came under pressure after SemiAnalysis raised concerns about the quality of its older data centers in British Columbia.
In posts on X on Wednesday, SemiAnalysis said it heard from multiple customers and end users about the Prince George and Mackenzie sites. Users described one of them as the “#1 worst site in the industry.”
IREN has not been reported to have responded to those posts in the sources reviewed here. The criticism is aimed at the legacy sites, not at the company’s newer AI cloud buildout.
IREN stock was down 1.46% in the most recent regular session shown on Investing.com, before Monday’s premarket move.
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