IREN Stock: Another AI Hype Train Wreck Waiting to Happen?
So, IREN stock jumps 20% because... Microsoft bought some AI cloud capacity? Give me a break. We're supposed to believe this is some kind of groundbreaking partnership? Please. This whole thing stinks of overhyped AI nonsense.
The Deal That's "Too Good"
Okay, let's break down the "blockbuster" deal. Microsoft, desperate to throw money at anything vaguely AI-shaped, agrees to a $9.7 million, five-year agreement with IREN, this Australian data center company nobody's ever heard of until suddenly, BAM, they're "a leading AI Cloud Service Provider." Right.
They're touting access to Nvidia's GB300 GPUs. Which, offcourse, everyone is scrambling for. But wait, is this really a game-changer, or just another case of a small company riding the AI wave to undeserved riches? I'm leaning toward the latter.
The quote from IREN's co-CEO, Daniel Roberts, is particularly vomit-inducing: "It marks another major step forward... reinforcing our position as a leading AI Cloud Service Provider." Sounds like it was written by a bot, not a human.
Retail Investors: Sheep to the Slaughter
And then there's this: IREN has "benefited recently from rising retail investor interest after being touted by hedge fund manager Eric Jackson." Oh, great. So it's a pump-and-dump scheme disguised as an AI revolution. This Jackson guy is the "architect" of the Opendoor stock rally. Which means what, exactly? That he's good at convincing clueless retail investors to throw their money away?
I'm picturing all these day traders, glued to their screens, drooling over the prospect of getting rich quick. They see "AI" and "Microsoft" and immediately start hitting the "buy" button. They expect us to believe this nonsense, and honestly...
I'm reminded of my own disastrous attempt to "invest" in crypto back in 2021. Lost a grand in a week.
The Inevitable Crash
Here's what's going to happen: IREN stock will continue to surge for a few more weeks, maybe even months, fueled by hype and FOMO. The insiders will cash out, leaving the retail investors holding the bag. And then, when the AI bubble finally bursts – and it will burst – IREN will come crashing back down to earth.
The whole thing is just... frustrating.
