IREN

Microsoft formally accepted Horizon 1, the first 50‑megawatt AI deployment at IREN’s Childress, Texas campus, allowing IREN to begin invoicing under the five‑year, $9.7 billion cloud services agreement. Horizon 1 uses Nvidia GB300 systems and received Nvidia Exemplar Cloud status; three more 50‑megawatt Horizons are scheduled for 2026, targeting ~200 MW total and roughly $1.94 billion in annualized revenue when fully running. The milestone validates IREN’s pivot from Bitcoin mining toward AI infrastructure but leaves significant financing and execution risk as the company and partners complete the remaining tranches. » More on finance.yahoo.com

IREN is accelerating its transition from bitcoin mining to AI cloud and signed a transmission connection agreement for a planned 800-megawatt data center campus in Bundey, South Australia, securing four high-voltage connections to support the project. The company plans preliminary development and equipment purchases while awaiting regulatory approvals. Bernstein maintained a Buy rating and a $100 price target, implying about 117% upside from current levels. » More on finance.yahoo.com

IREN’s stock rose 3.6% in premarket trading after being added to the Russell 1000 Index, effective after the close of trading on June 26. The inclusion reflects IREN’s expansion into the US market and its growing customer base. IREN is a vertically integrated provider of AI cloud services with large data centers and energy capacities in regions with a high share of renewable energy. » More on de.investing.com