IREN Ltd. (NASDAQ:IREN) was one of Situational Awareness’ largest investment holdings, alongside other names including Sandisk, Nebius Group, and Bitdeer Technologies. For IREN Ltd. (NASDAQ:IREN), the announcement also validated its AI infrastructure services, particularly given its deepening relationship with Microsoft. The agreement covers both bare metal and managed cloud services to customers including Microsoft, Nvidia, Perplexity, Figure AI, Together AI, Fluidstack, Fireworks AI, Fal AI, Hume AI, and another leading AI developer. Institutional Participation RisesInstitutional sentiment turned mix for IREN Ltd. (NASDAQ:IREN), with more hedge funds owning stakes in its shares, albeit limited. If you are looking for an AI stock that is more promising than IREN and that has 10,000% upside potential, check out our report about the cheapest AI stock.