The recent contracts follow the company's expansion of its AI Cloud capacity, with IREN forecasting that its GPU infrastructure could generate over $500 million in annual recurring revenue.
IREN (IREN) announced on Tuesday that it has entered into new multi-year agreements with major AI firms, tied to the deployment of the Nvidia Blackwell GPUs (graphics processing units).
Following the announcement, IREN stock traded over 8% higher in Tuesday’s premarket.
These recent contracts follow the company's expansion of its AI Cloud capacity, with IREN forecasting that its GPU infrastructure could generate over $500 million in annual recurring revenue (ARR) once its fleet of 23,000 GPUs is fully online by the end of the first quarter (Q1) 2026.
Retail sentiment around the stock jumped to ‘bullish’ from ‘neutral’ territory the previous day. Message volume improved to ‘high’ from ‘low’ in 24 hours.
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