Shares of IREN Ltd experienced a notable increase on Monday following the company’s recent announcement regarding its expansion in artificial intelligence (AI) cloud capacity and updated revenue forecasts.
In a significant move to enhance its AI capabilities, IREN disclosed that it has acquired a substantial number of graphics processing units (GPUs). The company purchased 7,100 Nvidia B300s, 4,200 Nvidia B200s, and 1,100 AMD MI350Xs for a total investment of $674 million. This strategic acquisition brings its overall AI cloud capacity to 23,000 GPUs, positioning IREN as a strong player in the AI cloud market.
The company’s growing portfolio of capabilities has led to a noticeable trend where customers are increasingly opting to contract capacity ahead of delivery. IREN is currently engaging in discussions for several thousand Blackwell clusters, indicating strong demand for its services.
In light of these developments, IREN expects its annualized run-rate revenue (ARR) from AI cloud services to reach $500 million by the first quarter of 2026. Co-founder and co-CEO Daniel Roberts emphasized the significance of this expansion, stating, “Doubling our fleet to more than 23,000 GPUs in just a few months highlights the strength of our vertically integrated platform and our ability to meet urgent, long-term demand. The shift toward pre-contracting ahead of delivery provides further momentum for the growth of our AI Cloud business.”
Investors interested in acquiring IREN stock have multiple options. Shares can be purchased directly through brokerage platforms, or investors may choose to invest in exchange-traded funds (ETFs) that include IREN shares within their portfolios. Additionally, those with 401(k) plans can seek to invest in mutual funds or other instruments that target the information technology sector, which includes IREN.
At the time of this announcement, IREN shares traded at $42.16, reflecting a significant increase of 9.11%. The recent developments signal a robust outlook for the company as it navigates the burgeoning field of AI.
