On May 7, IREN signed a 5-year, $3.4 billion AI Cloud contract to deploy NVIDIA Blackwell GPUs within its existing data centers. IREN also granted NVIDIA a 5-year right to purchase up to 30 million shares at an exercise price of $70 per share. The company is targeting $3.7 billion in Annual Recurring Revenue (ARR) by the end of calendar year 2026.
