f you've been watching NBIS run you already know what's happening in the neocloud sector right now. The AI infrastructure trade is one of the hottest rotations in the market. IREN runs in the same pack — same sector, same tailwinds, same institutional interest — and it hasn't had its full move yet.
Flat top breakout setting up. Risk managed right under the 9 EMA. Clean defined entry.
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THE CATALYST THAT CHANGES EVERYTHING
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Three weeks ago something happened with IREN that most traders glossed over.
Nvidia didn't just partner with IREN — Nvidia signed on as an actual paying customer. A five-year AI cloud services agreement worth $3.4 billion for 60 megawatts of capacity at IREN's Childress, Texas data center campus, part of a broader $2.1 billion deal that sent the stock surging 27% in a single session.
Think about what that means. Nvidia is the company building the chips that power every AI data center on earth. They have unlimited options for where to put their compute workloads. They chose IREN. That's not a press release. That's validation.
Nvidia made the same move with CoreWeave — $2 billion investment, 5 gigawatt partnership. Same with NBIS — $2 billion in at the same scale. With IREN stock now pushing toward $70, it's shaping up to be another winning bet for Nvidia's portfolio.
IREN has 4.5 gigawatts of secured power capacity and is targeting $3.4 billion in AI annual recurring revenue by the end of 2026. Among the smaller-cap neoclouds, IREN carries the cleanest balance sheet in the group. That matters when you're comparing it to CRWV which is loaded with $30 billion in debt.
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WHY IREN OVER NBIS RIGHT NOW
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NBIS has been the leader in this group. But Kunal mentioned something important — IREN fell over 5% after announcing a $2 billion convertible notes offering on May 11 — that's the dilution overhang Kunal flagged on NBIS too. Both names carry this risk. Know it going in. The Globe and Mail
The difference is IREN hasn't fully caught up to the move NBIS has already made. Same sector. Same Nvidia relationship. Cleaner balance sheet. Still sitting under the flat top. That's the catch-up trade.
Main worry is the 6 billion dollar ATM on this . Its dirty so this is just a chart play not big size high conviction due to the atm
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THE SETUP
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Flat top resistance sitting overhead. Price coiling right under it with the 9 EMA providing the risk management level. This is a textbook continuation setup in a hot sector with a hard catalyst already in the rearview and more pipeline catalysts coming as the capacity ramp continues.
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TRADE PLAN
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Pattern: Flat top breakout
Entry: Break above the flat top resistance on volume
Stop: Under the 9 EMA
Theme: Neocloud catch-up trade — NBIS led, IREN follows
Risk flag: Convertible notes dilution overhang — size accordingly
Flat top breakout setting up. Risk managed right under the 9 EMA. Clean defined entry.
─────────────────────────────────
THE CATALYST THAT CHANGES EVERYTHING
─────────────────────────────────
Three weeks ago something happened with IREN that most traders glossed over.
Nvidia didn't just partner with IREN — Nvidia signed on as an actual paying customer. A five-year AI cloud services agreement worth $3.4 billion for 60 megawatts of capacity at IREN's Childress, Texas data center campus, part of a broader $2.1 billion deal that sent the stock surging 27% in a single session.
Think about what that means. Nvidia is the company building the chips that power every AI data center on earth. They have unlimited options for where to put their compute workloads. They chose IREN. That's not a press release. That's validation.
Nvidia made the same move with CoreWeave — $2 billion investment, 5 gigawatt partnership. Same with NBIS — $2 billion in at the same scale. With IREN stock now pushing toward $70, it's shaping up to be another winning bet for Nvidia's portfolio.
IREN has 4.5 gigawatts of secured power capacity and is targeting $3.4 billion in AI annual recurring revenue by the end of 2026. Among the smaller-cap neoclouds, IREN carries the cleanest balance sheet in the group. That matters when you're comparing it to CRWV which is loaded with $30 billion in debt.
─────────────────────────────────
WHY IREN OVER NBIS RIGHT NOW
─────────────────────────────────
NBIS has been the leader in this group. But Kunal mentioned something important — IREN fell over 5% after announcing a $2 billion convertible notes offering on May 11 — that's the dilution overhang Kunal flagged on NBIS too. Both names carry this risk. Know it going in. The Globe and Mail
The difference is IREN hasn't fully caught up to the move NBIS has already made. Same sector. Same Nvidia relationship. Cleaner balance sheet. Still sitting under the flat top. That's the catch-up trade.
Main worry is the 6 billion dollar ATM on this . Its dirty so this is just a chart play not big size high conviction due to the atm
─────────────────────────────────
THE SETUP
─────────────────────────────────
Flat top resistance sitting overhead. Price coiling right under it with the 9 EMA providing the risk management level. This is a textbook continuation setup in a hot sector with a hard catalyst already in the rearview and more pipeline catalysts coming as the capacity ramp continues.
─────────────────────────────────
TRADE PLAN
─────────────────────────────────
Pattern: Flat top breakout
Entry: Break above the flat top resistance on volume
Stop: Under the 9 EMA
Theme: Neocloud catch-up trade — NBIS led, IREN follows
Risk flag: Convertible notes dilution overhang — size accordingly
📈 Kunal Desai, Founder of BullsOnWallStreet – Trading Education Since 2008
🚀 Learn my trading strategies, watch live setups, and get mentored:
🔗bullsonwallstreet.com/live-60-day-bootcamp
🚀 Learn my trading strategies, watch live setups, and get mentored:
🔗bullsonwallstreet.com/live-60-day-bootcamp
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
📈 Kunal Desai, Founder of BullsOnWallStreet – Trading Education Since 2008
🚀 Learn my trading strategies, watch live setups, and get mentored:
🔗bullsonwallstreet.com/live-60-day-bootcamp
🚀 Learn my trading strategies, watch live setups, and get mentored:
🔗bullsonwallstreet.com/live-60-day-bootcamp
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.