IREN raises 2026 revenue target to $4bn after $2.8bn in contracts
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IREN Signs $2.8bn in New Customer Contracts with Leading AI Developers, Raises 2026 ARR Target to over $4bn
July 20, 2026 7:00 AM EDTNEW YORK, July 20, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ: IREN) (IREN) today announced that it has raised its year-end AI Cloud annualized run-rate revenue (ARR)1 target from $3.7bn to more than $4bn2, of which approximately 85% is now under contract following new multi-year cloud services contracts with leading AI developers representing $2.8bn in total contract value.
IREN's customer base now includes Microsoft, NVIDIA, Perplexity, Figure AI, Together AI, Fluidstack, Fireworks AI, Fal AI, Hume AI, and a new leading AI developer, across both bare metal and managed cloud services.
IREN remains selective in allocating capacity... More
