Iren shares rise 9.2% premarket after co signs multi-year cloud services contracts for Nvidia GPUs

Iren shares rise 9.2% premarket after co signs multi-year cloud services contracts for Nvidia GPUs

Iren Limited's (NASDAQ: IREN) shares surged 9.2% premarket on September 12, 2025, following the company's announcement of signing multi-year cloud services contracts for Nvidia GPUs. The contracts are expected to contribute significantly to the company's AI Cloud annualized run-rate revenue (ARR).

The company has secured additional multi-year cloud services contracts with leading AI companies, deploying Nvidia GPUs. Iren expects to achieve an AI Cloud ARR of $500 million from 23,000 GPUs currently operating and on order by the end of Q1 2026 . As of October 6, 2025, customer contracts have been secured for 11,000 of these GPUs, representing approximately $225 million in AI Cloud ARR .

Iren's expansion of AI Cloud capacity and strategic location in renewable-rich, fiber-connected regions across the U.S. and Canada position the company to meet accelerating demand for AI compute. The company's 2,910 MW of secured power and land portfolio further supports its growth potential .

The announcement comes as Iren transitions to a standardized reporting process, discontinuing monthly operating updates in favor of a more industry-standard approach. The company is well-positioned to scale with the rapid growth in AI compute needs, as indicated by its strong financial outlook and strategic investments in renewable energy and advanced data center technologies.