December 15, 2025 — IREN Limited (NASDAQ: IREN) is back in the spotlight as one of the most volatile “AI infrastructure” trades in U.S. markets. After a breathtaking surge earlier in 2025—driven by its pivot from bitcoin mining toward high-performance AI compute—IREN shares are now fighting through a sharp drawdown, with investors weighing dilution, capital intensity, and execution risk against a blockbuster hyperscaler contract.

As of Dec. 15, 2025 at 17:29 UTC, IREN stock traded at $36.31, down 9.5% on the day, after swinging between $35.59 and $40.63 on roughly 30.3 million shares of volume.

This article rounds up the key news, analyst commentary, and forecast signals circulating on Dec. 15, 2025, and explains what matters…