IREN Secures 50,000 Nvidia GPUs, Targets $3.7B AI Cloud Revenue by 2026
IREN shares fell to $35 on macro risk-off, triggering a strong buy upgrade after securing 50,000 Nvidia B300 GPUs and raising its AI Cloud revenue run-rate target to $3.7 billion by end-2026. It has $9.3 billion in funding and 4.5 GW of power capacity, though execution and Bitcoin divisions pose risks.
1. Share Price Decline and Upgrade
IREN’s stock dipped to $35, driven by broader macro risk-off sentiment rather than company fundamentals, prompting analysts to upgrade the shares to a strong buy.
2. GPU Acquisition and Revenue Guidance
The company secured 50,000 Nvidia B300 GPUs, underpinning its revised AI Cloud annualized run-rate revenue target of $3.7 billion by the end of 2026.
3. Funding, Infrastructure and Risks
With $9.3 billion in recent funding and 4.5 GW of secured power capacity, IREN is positioned to scale its AI operations, although execution challenges and performance volatility in its Bitcoin mining division present potential headwinds.