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 ...

IREN (IREN) jumped 11% in pre-market trading to $43 after the company announced it has doubled its AI Cloud capacity to 23,000 GPUs, lifting its annualized run-rate revenue target to more than $500 million by Q1 of 2026. The company invested about $674 million in 7,100 NVIDIA B300s, 4,200 NVIDIA B200s and 1,100 AMD MI350Xs. Deliveries will be staged over the coming months at IREN’s Prince George campus, which alongside Texas facilities, can eventually host over 60,000 Blackwell GPUs. The expanded fleet no ...