Iris Energy -IREN Expands AI Cloud Capacity: Is the Growth Thesis Strengthening?

Key Takeaways IREN added 12.4k GPUs, bringing its AI cloud capacity to 23k GPUs. The company expects $500M in AI Cloud ARR by Q1 fiscal 2026. IREN shares are up 314.5% YTD, far outpacing sector and industry gains. IREN Limited (IREN) has doubled its AI cloud capacity to 23k GPUs through the purchase of an additional 12.4k GPUs for roughly$ 674 million. This comprises 1.9k NVIDIA H100s and H200s, 19.1k NVIDIA B200s and B300s, 1.2k NVIDIA GB300s and 1.1k AMD MI350Xs. IREN now expects to achieve $500 million i ...