IREN stock plunges 18% as Microsoft raises concerns over data center delays

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Investing.com -- IREN Ltd. shares plunged 18% Thursday amid a broad technology selloff, with a Bloomberg report highlighting growing concerns at Microsoft over delays and execution risks among its neocloud partners. Still guessing which stocks will beat the market? Our AI portfolio updates monthly and is outperforming the S&P 500 by 118%. See this month's list » Microsoft is tightening oversight of data center projects involving IREN, Nebius Group and Nscale while reconsidering whether to sign additional agreements with third-party infrastructure providers, Bloomberg reported. Some of the problems involve IREN's Texas campus, where cabling issues have disrupted construction timelines.