IREN Ltd. Aims for $3.7 B ARR with 150,000-GPU Expansion After $9.3 B Funding
IREN Ltd. shares rose 12.8% after unveiling a plan to reach a $3.7 billion annual revenue run rate with a 150,000-GPU fleet. The company raised $9.3 billion via prepayments, convertible notes, GPU financing and equity sales and earmarked $3.5 billion for GPU-capex by year-end.
1. Expansion Plan Drives Stock Surge
IREN Ltd. shares jumped 12.8% following the announcement of an expansion initiative designed to boost its annualized revenue run rate to $3.7 billion this year. Investors responded positively to the company’s roadmap for rapid scaling in the AI cloud infrastructure market.
2. GPU Fleet Acquisition and Deployment
The company increased its NVIDIA B300 GPU fleet to 150,000 units by acquiring an additional 50,000 GPUs. IREN plans to deploy these units in phases across its Mackenzie, British Columbia, and Childress, Texas, data centers through the second half of the year.
3. Funding and Capital Allocation
Over the past eight months, IREN secured $9.3 billion in customer prepayments, convertible notes, GPU leasing and financing arrangements. It has set aside $3.5 billion in capital expenditures to support GPU deployments and infrastructure upgrades by year-end.
4. Market Reaction and Adjacent Trends
The expansion news coincided with an 8% surge in Bitcoin prices, which lifted shares of AI infrastructure providers broadly. This positive market backdrop amplified investor appetite for IREN’s growth trajectory and capital-raising efforts.