On September 3, IREN Ltd rose 5.09% in regular trading, trading at $38.76/share with turnover of $868 million, rebounding sharply from a multi-day post-earnings selloff.

On the news front, Dell reported strong after-hours results showing AI-optimized server revenue doubling year-over-year to $16.4 billion with a $95 billion order backlog. Critically, Dell explicitly referenced a $1.6 billion hardware procurement agreement signed with IREN, covering servers equipped with NVIDIA chips, directly validating IREN's AI cloud infrastructure expansion progress.

Additionally, the $2.4 billion debt financing led by Blue Owl Capital alongside PIMCO has officially closed. The facility, structured as $1.2 billion in senior secured term loans and $1.2 billion in senior secured notes at a fixed 9% annual rate over two and a half years, is earmarked for purchasing NVIDIA Blackwell Ultra GPUs to support construction of IREN's Mackenzie data center campus in British Columbia, Canada.

The rebound follows a period of pressure after IREN's Q4 results showed adjusted EPS of -$0.74, missing the -$0.49 consensus by over 51%, while revenue declined 26.8% year-over-year to $137.2 million. The Dell validation and completed financing appear to have alleviated near-term execution concerns.

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