IREN lifts 2026 AI Cloud ARR target to over $4 billion - IREN News | RalliesIREN lifts 2026 AI Cloud ARR target to over $4 billion
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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.
KMI
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