IREN Stock Drops 7% After Q4 Revenue Miss Despite AI Cloud Growth

IREN reported Q4 revenue of $137.2 million, missing Wall Street's forecast of $157.14 million by about 12.7%. AI Cloud revenue hit $70.5 million, making up 51.4% of total revenue for the first time. The company posted a net loss of $684 million, mostly from non-cash impairments tied to its exit from bitcoin mining.