IREN Secures $3.6B GPU Financing for Microsoft AI Deal

IREN Limited secured $3.6 billion in GPU financing from Goldman Sachs and JPMorgan Chase to support its $9.7 billion contract with Microsoft. The deal covers nearly 95% of Iren's GPU-related capital needs at an interest rate below 6%. Iren expects to deliver 140,000 GPUs by 2026, driving $3.4 billion in annualized revenue. The company has a $2.8 billion cash position and expanding power infrastructure, despite quarterly revenue dipping 23% to $184.7 million due to reduced Bitcoin mining.