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IREN Lands Multibillion-Dollar AI Cloud Contracts as AI Revenue Jumps

IREN (Iris Energy) logoIREN (Iris Energy)
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IREN secured multibillion-dollar contracts with major AI customers and rapidly expanded its AI cloud business, raising revenue targets as demand for AI computing capacity outpaces supply. AI Cloud Services revenue rose 94% sequentially, but overall revenue fell after a significant drop in BTC mining revenue. Loss per share was $0.30 versus the $0.21 consensus.

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