IREN

IREN shares climbed 4.9% in the morning to $44.67 ahead of the Q4 results announcement on August 27. Support came from strong quarterly results at competitors CoreWeave and Nebius, a confirmed handover of the Horizon 1 data center to Microsoft, and receipt of "NVIDIA Exemplar Cloud" status. Bernstein analyst Gautam Chhugani reaffirmed his buy rating with a $100 price target, while the consensus currently shows a moderate buy with an approximately $80 12-month target. Despite the recovery, uncertainty remains ahead of the report, as IREN missed estimates in the prior quarter. » Altro su de.investing.com

Iren announced Horizon 1 data center is operational and delivered to Microsoft, starting roughly $500 million in annual recurring revenue for the next five years. Management expects Horizon sites 2–4 to be delivered later this year, with the four Microsoft sites combined to generate about $1.94 billion annually before accounting for a 20% prepayment. Strong prepayments on other customer contracts and rising market prices for AI capacity reduce Iren's need for debt financing and support management's target of over $4 billion in annual recurring revenue for 2026. The company aims to expand gross AI cloud capacity to 480 MW by year-end and materially improve cash flow and margins in 2027–2028 as more sites come online. » Altro su finance.yahoo.com

IREN rallied after Microsoft formally accepted Horizon 1, triggering monthly invoicing under the five-year, $9.7 billion cloud services agreement. NVIDIA’s Exemplar Cloud designation validates the deployment’s AI performance and could help IREN attract additional hyperscaler customers as it pursues a 480MW 2026 capacity target. The acceptance converts a capital project into recognized revenue, supporting management’s AI cloud buildout despite high GPU financing needs and lingering skepticism about the company’s economics. » Altro su finance.yahoo.com