IREN announced new multi-year cloud services contracts with leading AI developers totaling $2.8 billion in contract value. Following these agreements, the company raised its year-end 2026 AI Cloud annualized run-rate revenue (ARR) target to over $4 billion, up from the previous $3.7 billion forecast. These updates, confirmed between July 20 and 21, reflect a significant expansion in the company's customer base and future financial guidance.
