IREN FY26 AI Cloud revenue $128.8M
Company: IREN
The claim, verbatim
IREN's AI Cloud business generated $128.8 million in revenue in FY26 against $16.9 million cost of revenue (ex-D&A), an implied ~87% gross margin.
Source (primary)
SpaceX and IREN AI margins diverge sharply despite Nvidia chip usage - scanx.trade (-, news_article)
View cached copy (2026-10-08)Live source ↗Archive.org ↗
Quote: “IREN's AI Cloud division generated $128.8 million in revenue against just $16.9 million in cost of revenue (excluding depreciation and amortization), resulting in an implied gross margin of approximately 87%”
How we checked this
Checked on October 13, 2026. The cited source supports every part of this claim.
The article's highlights and comparison table give IREN's FY26 AI Cloud revenue of $128.8 million, cost of revenue of $16.9 million excluding D&A, and an implied gross margin of about 87%.
Confirmed in the source:
- IREN's AI Cloud business generated $128.8 million in revenue in FY26
- IREN's AI Cloud cost of revenue was $16.9 million, excluding depreciation and amortization
- IREN's AI Cloud implied gross margin was approximately 87%
What we did: Read our cached copy of the publisher (https://scanx.trade/stock-market-news/companies/spacex-iren-ai-margins-diverge-sharply-despite-nvidia-chip-usage/52933578) in full (20,685 characters, retrieved October 8, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms SpaceX and IREN AI margins diverge sharply despite Nvidia chip usage - scanx.trade
Quote: “IREN's AI Cloud division generated $128.8 million in revenue against just $16.9 million in cost of revenue (excluding depreciation and amortization), resulting in an implied gross margin of approximately 87%”