IREN

IREN reported $7.6 billion in cash at June end and says existing cash, committed GPU financing and customer prepayments provide roughly $14 billion of funding capacity. Microsoft accepted IREN's first Horizon deployment in August under a multiyear arrangement, while IREN targets about 300 MW of IT load in 2026 and 800 MW in 2027 with fiscal 2027 capex estimated at $25–30 billion. Key risks remain execution, equipment lead times and the possibility that rising project costs or shifting AI demand could undermine returns despite reduced demand uncertainty from Microsoft. » Altro su finance.yahoo.com

Iren is shifting from Bitcoin mining toward AI cloud services, reinvesting mining proceeds to build high-performance compute capacity and driving AI cloud revenue roughly eightfold year-over-year. The transition has caused near-term net losses due to platform investments and impairments, but AI revenue has more than doubled over the last two quarters. JPMorgan upgraded Iren to buy and raised its price target, citing customer traction and a strategic alliance with Nvidia as credibility boosters for the company's path to profitability. » Altro su finance.yahoo.com

IREN said its 2 GW Sweetwater Hub in Texas was conditionally included as Base Load in ERCOT's Batch Zero queue, advancing the project's grid interconnection timeline and sending the stock up about 7%. Applied Digital rallied in sympathy while broader sector and market moves were muted. The classification remains conditional and subject to further approvals; IREN cited grid capacity as the scarcest input with active pricing discussions near $25 million per MW and highlighted a development pipeline exceeding 5 GW and a $4 billion ARR target. » Altro su finance.yahoo.com