IREN stock rose by over 7.5% in the premarket session, jumping to $43.3, up by nearly 50% from its lowest level on June 29 this year, following positive neocloud industry news. Nvidia inked a $500 billion deal with BlackRock and BlackStone to finance AI companies, converting Nvidia’s chips into a new asset class. Riot Platforms signed a $9 billion deal with Anthropic, while CoreWeave reported revenue of $2.57 billion in the second quarter, up from $1.2 billion in the same period last year, with a backlog of $104 billion. Goldman Sachs boosted its Nebius stock forecast, expecting annual EBITDA of $30 billion by 2030. IREN reached deals worth $2.8 billion with Perplexity, Figure AI, Together AI, and Fluidstack, prompting management to hike its ARR target to over $4 billion. Analysts estimate its second-quarter revenue dropped 26% to $139 million due to its pivot from Bitcoin mining, but full-year revenue is expected to rise from $510 million last year to $722 million, then $3 billion next year, helped by a $9.3 billion Microsoft deal. Challenges include rising depreciation—CoreWeave’s depreciation and amortization hit $1.3 billion against $2.5 billion revenue, and IREN’s D&A reached $121 million in the first quarter—plus intense competition