IREN Shares Rally After Securing AI Cloud Contracts with NVIDIA
IREN's Growth and AI Contracts
- IREN shares rose after securing multi-year AI cloud service contracts with major AI firms for NVIDIA Blackwell GPU deployments.
- The company aims to exceed $500 million in annualized run-rate revenue (ARR) by Q1 2026, based on 23,000 GPUs in operation or on order.
- Contracts for 11,000 GPUs are signed, expected to generate around $225 million in ARR by the end of 2025.
- IREN is expanding across British Columbia and Texas data centers, capable of hosting over 100,000 GPUs with 2,910 MW secured power capacity.
- Co-Founder Daniel Roberts highlighted IREN's rapid transition from ASICs to GPUs to meet growing AI compute demand.
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