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IREN’s AI Cloud Boom | Durham News
IREN Limited just shattered expectations with $2.8 billion in new cloud contracts and raised its AI cloud revenue target to over $4 billion—powered by big names like Microsoft and Nvidia. With 85% of that goal already secured and customer prepayments covering infrastructure costs, IREN’s growth is both massive and low-risk. Backed by a $7.6 billion cash reserve and a prior $3.4 billion deal with Nvidia—including an option for Nvidia to buy shares—IREN is rapidly transforming from Bitcoin miner to AI infrastructure titan. Investors are watching closely as AI revenue surges this year, proving…
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