IREN Limited shares traded higher on Wednesday as upbeat quarterly results from neocloud peers fueled broader momentum in AI infrastructure names. CoreWeave climbed 18.2% after reporting second-quarter revenue of $2.58 billion, up 112% year over year, raising full-year guidance to $12.4 billion-$13.2 billion and disclosing a $104 billion backlog. Nebius Group rose 15.67% after posting $582.3 million in revenue and positive adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) of $236.2 million. Both companies said near-term capacity was sold out, underscoring strong demand for GPU-as-a-service (renting AI chips on demand) used to access Nvidia hardware for artificial intelligence workloads. IREN, which shifted power infrastructure from Bitcoin mining to AI hosting, was up 7.17% at $42.60 at publication. Technically, the stock was above its 20-day simple moving average but remained below its 50-day, 100-day and 200-day averages, with a death cross (50-day average below the 200-day average) still acting as an overhead headwind.