IREN - Sympathy play

IREN surged 7.5% on Wednesday to close at $39.60, driven by a sympathy move following Dell's strong AI-server earnings, which showed $95B in backlog demand. IREN has a roughly $1.6B agreement to purchase Dell's Nvidia Blackwell systems, positioning it to benefit from the ongoing AI data-center buildout.

Why it matters: Short interest stands at approximately 94M shares (~28% of float) with days-to-cover around 2.2; key resistance at $40–$40.50 with potential upside to $42–$43 if $41 is breached.