IREN Announces $2.8 Billion in New AI Cloud Contracts
IREN Limited (IREN) has secured $2.8 billion in new multi-year AI cloud services contracts with leading developers, prompting the company to raise its 2026 annualized revenue target above $4 billion. The agreements reduce financing risk by having customers prepay for approximately 45% of GPU capital expenditures.
Topics: AI infrastructure cloud services contracts revenue growth