$IREN The AI thesis moved from promises to delivery this week.
IREN announced that Horizon 1 has been delivered to and accepted by Microsoft.
It is the first of four 50MW AI Cloud deployments scheduled for delivery in 2026 under the company’s five-year, $9.7B contract.
IREN also achieved NVIDIA Exemplar Cloud status for its GB300 NVL72 infrastructure, providing external validation of its ability to operate large-scale AI workloads.
In July, the company added $2.8B in new customer contracts and raised its year-end AI Cloud ARR target above $4B, approximately 85% of which is now under contract.