IREN Secures 85% of AI Cloud Contracts, $400 Billion Target in Sight
By: rootdata|2026/08/01 23:01:08
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Prefer us on GoogleAI data center specialist IREN closed at $36.80 on Friday, down 3.8% from the previous day. IREN announced that approximately 85% of its annual recurring revenue (ARR) target of $400 billion for AI cloud by the end of this year is already in the contract stage. This reflects the market situation where AI cloud demand continues to exceed the pace of infrastructure development. IREN is pursuing phased expansion with a goal of securing 480MW of data center capacity by 2026 and 1.2GW by 2027. The company has signed a transmission connection agreement for the construction of a large data center campus with a capacity of 800MW in southern Australia, which is expected to be operational by 2028. IREN has also entered into an investment-grade GPU financing agreement worth $3.65 billion to support the execution of its AI cloud contracts with Microsoft. This funding is expected to be a key factor in enhancing the feasibility of its roadmap by securing the necessary resources for large-scale infrastructure development.
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