IREN falls 5% despite CEO's bullish AI supply warning

This article first appeared on GuruFocus. IREN Ltd. (IREN, Financials), the data-center and AI infrastructure provider, slumped almost 5% in premarket trade Monday even as its CEO stated that demand for processing capacity remains significantly outstripping supply.Concerns about slowing frontier AI development should be separated from demand for today's AI tasks, said CEO Daniel Roberts.He argues that even if model improvements ceased today, it would still take years of extra infrastructure to deploy today's AI capabilities.Roberts cited Anthropic's significant development, OpenAI's continuous computational constraints and Google processing almost seven times more tokens than a year ago. GPUs are not the only bottlenecks.