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.
The Q1 2026 earnings reporting cycle has further expanded with the addition of Inter & Co, Inc. (INTR) and TELUS Corporation (T:CA), joining Fiera Capital Corporation (FSZ:CA), Chartwell Retirement Residences (CSH.UN:CA), and Concentra Group Holdings Parent, Inc. (CON) in releasing their call transcripts. These new…
Read the full storyIREN shares experienced a significant market reaction on May 8, 2026, as the company reported a 94% sequential surge in AI cloud revenue to $33.6 million. This growth is driven by a multi-year strategic alliance with Nvidia valued at $3.4 billion, aimed at transforming IREN into a vertically integrated data center…
IREN Limited has announced a $3.4 billion AI Cloud contract with NVIDIA to deploy Blackwell GPUs, even as its Q3 financial results highlighted growing operational pressures. The company reported a widening net loss for the third quarter compared to the previous period, alongside a decline in total revenues. This…