🔴 IREN is trading 4.8% down in pre-market after Musk warned of AI cloud provider failures

IREN is trading at $23.71, down 4.78%, as Musk’s warning weighs on neocloud shares.

• Overnight reports say IREN and other neocloud shares extended their slide after Elon Musk warned of failures and consolidation among AI cloud providers.
• Musk said SpaceX would not acquire one; sector concerns include debt-heavy expansion and tighter financing.
• Bitcoin fell 0.63% and Ethereum 1.39% since last close, modest moves versus IREN. Reports cite neocloud sentiment, not a new IREN-specific announcement, as the primary pressure.