IREN shares fall following Microsoft comparison

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By Michael Brown • Updated Nov 6, 2026 at 00:50

Neocloud firm IREN tops quarterly revenue estimates, shares jump - Reuters — IREN shares fall following Microsoft comparison

IREN stock plummeted after a report suggested the company is trailing behind Microsoft in AI spending. Despite this, IREN shared Q1 FY27 results, with AI Cloud contributing to revenue to $228 million. More than $4 billion in annualized revenue was contracted and funded. The firm exceeded quarterly revenue estimates, causing shares to climb. However, a delay in $4 billion of annualized revenue was blamed to customer requests, and AI Cloud revenue nearly tripled to $200 million, though Q3 saw a drop.

“IREN stock plummeted after a report suggested the company is trailing behind Microsoft in AI spending,” — Ingrid Thorne, research director at Norton Field Services, told our newsroom.

By the Numbers

228 — mentions tracked
4 — updates logged
200 — regions covered

Timeline

Nov 6 — IREN stock plummeted after a report suggested the company is trailing behind Microsoft in AI spending....

Nov 7 — However, a delay in $4 billion of annualized revenue was blamed to customer requests, and AI Cloud revenue nea...

Reader Poll: Has this affected your local community? — 52% of Natriuem readers said yes.

This story has been closely followed by our readers since Nov 4. The Norton Field Services desk continues tracking updates and will publish follow-ups across the region.

What's next: A follow-up briefing is expected by Tuesday, Nov 10.

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Editor's note: this report was prepared by the Norton Field Services desk and last updated 02:14 UTC.

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