IREN secures multi-year AI cloud deals for Nvidia Blackwell GPU deployments

[Hand towards cloud virtual, data center organization, efficiently management data, document management systems online.]
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* IREN (NASDAQ:IREN [https://seekingalpha.com/symbol/IREN]) on Tuesday announced [https://seekingalpha.com/pr/20256514-iren-secures-new-multi-year-ai-cloud-contracts]it has signed additional multi-year cloud services contracts with AI companies for Nvidia (NASDAQ:NVDA [https://seekingalpha.com/symbol/NVDA]) Blackwell GPU deployments.
* IREN recently expanded its AI Cloud capacity and remains on track to achieve >$500m in annualized run-rate revenue from the 23k GPUs currently operating and on order by the end of Q1 2026.
* To date, customer contracts have been secured for 11k of the 23k GPUs, representing approximately $225M in AI Cloud ARR, expected to be in operation by the end of 2025.

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