NasdaqGS:IRENSoftware
IREN (IREN) Is Up 11.1% After Massive AI GPU Pivot And US$6B Equity Plan Unveiled
In recent weeks, Iris Energy (IREN) accelerated its pivot from Bitcoin mining to GPU-powered AI cloud services, securing over 50,000 Nvidia B300 GPUs and advancing plans to leverage a secured 4.5GW power portfolio for large-scale data center expansion.
At the same time, a very large US$6.00 billion at-the-market equity program and new U.S. tariffs on AI chips have raised questions about dilution, hardware costs, and execution risk as the company targets an AI cloud-focused future.
Now we’ll...