AI Cloud annualized run-rate revenue target
Company: IREN
The claim, verbatim
IREN is targeting $3.4bn in AI Cloud annualized run-rate revenue by the end of 2026, representing an expansion to 140k GPUs.
Source (primary)
iren 8-K exhibit (q1fy26resultspressreleas.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-27)Live source ↗
Quote: “Targeting $3.4bn in AI Cloud annualized run-rate revenue (ARR) by the end of 2026 (expansion to 140k GPUs)”
How we checked this
Checked on September 28, 2026. The cited source supports every part of this claim.
The release's highlights state the $3.4bn ARR target by end of 2026 tied to expansion to 140k GPUs. A footnote notes the target is not fully contracted.
Confirmed in the source:
- IREN is targeting $3.4bn in AI Cloud annualized run-rate revenue by the end of 2026
- The target corresponds to an expansion to 140k GPUs
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1878848/000187884825000079/q1fy26resultspressreleas.htm) in full (25,079 characters, retrieved September 27, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms iren 8-K exhibit (q1fy26resultspressreleas.htm)
Quote: “Targeting $3.4bn in AI Cloud annualized run-rate revenue (ARR) by the end of 2026 (expansion to 140k GPUs)”