IREN (IREN) shares continued to rally after announcing new multi-year AI cloud service contracts with leading AI companies for NVIDIA Blackwell GPU deployments.
The company remains on track to surpass $500 million in annualized run-rate revenue (ARR) by the end of Q1 2026 from 23,000 GPUs in operation or on order.
Contracts covering 11,000 GPUs have already been signed, representing around $225 million in ARR expected to come online by the end of 2025.
STORY CONTINUES BELOW
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