Stock Market Today, Jan. 12: Iren Jumps on Bernstein Naming It Top AI Pick After Microsoft Contract Win
On Jan. 12, 2026, a Bitcoin-linked data center operator’s AI pivot and Microsoft deal put its growth strategy under the spotlight.
Today’s Change
(5.21%) $2.62
Current Price
$52.95
Key Data Points
Market Cap
$16B
Day’s Range
$49.82 – $52.97
52wk Range
$5.13 – $76.87
Volume
1.4M
Avg Vol
38M
Gross Margin
31.17%
Iren (IREN +5.21%), a vertically integrated data center operator previously specializing in Bitcoin (BTC +4.60%) mining, closed Monday at $50.33, up 9.34% on the day. Iren IPO’d in 2021 and has grown 106% since going public. Trading volume reached 52 million shares, coming in about 37% above versus its three-month average of 37.8 million shares.
Monday’s trading is reflecting renewed interest in crypto-exposed AI infrastructure plays, with investors watching Iren’s Microsoft (MSFT 1.44%) AI contract and pivot toward high-performance computing.
How the markets moved today
The S&P 500 (^GSPC 0.19%) added 0.15% to finish at 6,977, while the Nasdaq Composite (^IXIC 0.10%) climbed 0.26% to 23,734. Within capital markets industry names, peers Mara Holdings (MARA +2.82%) and Riot Platforms (RIOT +1.76%) gained 4.21% and 7.38%, respectively, as traders track Bitcoin levels and the evolving role of miners in AI and data-center growth.
What this means for investors
Iren initially began as a Bitcoin mining company, utilizing data centers full of servers. With the surge in demand for compute capacity from the rise in AI, the company has pivoted its focus to high-performance AI computing. The consistent revenue generated from the crypto mining operations is helping Iren to transition more rapidly, supplying the necessary resources to develop and maintain a fully integrated AI cloud complex.
Today’s move comes after Bernstein analyst Gautam Chhugani named Iren his “top AI pick” for 2026 on Friday. A nearly $10 billion AI cloud contract with Microsoft is a core reason.
Iren continues to raise capital to grow its compute capacity, so more deals could be in its future.
Howard Smith has positions in Microsoft. The Motley Fool has positions in and recommends Bitcoin and Microsoft. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy.
