What’s Going With IREN Stock On Tuesday
IREN Limited (NASDAQ:IREN) shares advanced on Tuesday after the data center operator announced a new batch of multi-year agreements with major artificial intelligence companies that are deploying NVIDIA Corporation’s (NASDAQ:NVDA) Blackwell GPUs.
The stock gave up its premarket gains and is trading lower at the time of publication.
IREN said its expanding AI Cloud division remains on track to surpass $500 million in annualized recurring revenue from a combined fleet of 23,000 GPUs that are either active or scheduled to come online by the first quarter of 2026.
The company has locked in customer commitments for roughly 11,000 GPUs—representing about $225 million in annualized cloud revenue—expected to be operational by the end of 2025.
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