IREN Lifts AI Cloud Revenue Target to Over $4B, Signaling Strong Demand
IREN has more than doubled off its 52-week low of $14.72.
Summary
IREN raised its year-end AI Cloud annualized run-rate revenue target from $3.7 billion to more than $4 billion, an increase of over 8%, signaling accelerating demand for its AI infrastructure. The company also signed $2.8 billion in contracts, further supporting the raised target. This follows aggressive moves including a $2.6 billion convertible note offering in May, a $3.6 billion financing package in June, and the Nostrum Group acquisition closing in mid-June, all aimed at scaling its AI cloud platform. The guidance boost suggests those investments are translating into faster revenue momentum than previously expected. With the stock at $36 and a market cap near $12 billion, the raised target reinforces the growth narrative that has driven the stock's recent run. Next catalyst: fiscal Q4 results, where actual revenue against this new run-rate will be closely scrutinized.
At the time of this announcement, IREN was trading at $36.04 on NASDAQ in the Technology sector, with a market capitalization of approximately $12B. The 52-week trading range was $14.72 to $76.87. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.