IREN lifts 2026 AI Cloud ARR target to over $4 billion
IREN•IREN raises 2026 AI Cloud ARR target
- IREN raised its year-end 2026 AI Cloud annualized run-rate revenue (ARR) target to more than $4 billion from $3.7 billion.
- The higher target follows new multi-year cloud services contracts with leading AI developers worth $2.8 billion in total contract value.
- About 85% of the ARR target is now under contract; customer prepayments cover about 45% of associated GPU capital expenditure.
- Weighted average contract term is about four years; cash and cash equivalents totaled about $7.6 billion at June 30, 2026.
Related News
Gap Announces Strategic Partnership With Iconic Brands Nordic For Nordic And Baltic Expansion
GAP•
Paramount Skydance Corporation Announces Extension Of Expiration Dates Of Previously Announced Exchange Offers And Tender Offers
PSKY•
