HFT firms target IREN as ‘retail mania’ for AI fuels extreme volatility
Some of the biggest players in high frequency trading including Jane Street and Susquehanna are dabbling in the Australian neocloud, as retail money piles in.
Nasdaq-listed Australian neocloud IREN has emerged as a popular plaything for some of the world’s most valuable high frequency trading firms, which are being drawn to the volatility in the stock driven in turn by ‘retail mania’ for AI exposure.
Storied US HFT firms including Jane Street, Susquehanna International Group, IMC Trading and Hudson River Trading all held options and shares in IREN as of 31 March, according to their latest SEC filings. The HFT firms were all contacted for comment but did not respond before publication.
Jane Street and Susquehanna holdings in IREN previously peaked at 4.1% and 2.7% respectively in 2025, but have trimmed their positions since then, with each holding under 1% excluding options, according to S&P Capital IQ data.
Smaller market-maker firms like Simplex Trading, Walleye Capital, and Group One Trading also held shares and options in IREN, according to SEC filings. Hudson River Trading also held shares in Nasdaq-listed Australian neocloud Sharon AI.
