By Simply Wall St
Publication Date: 2026-02-07 18:04:00
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IREN (NasdaqGS:IREN) has secured $3.6b in GPU financing supported by leading global banks.
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The company aligned this funding with a $1.9b customer prepayment tied to a $9.7b AI contract with Microsoft.
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IREN outlined plans to expand its data center power capacity by 1.6GW in Oklahoma and target 140,000 GPUs installed by 2026.
IREN is pushing to reposition from Bitcoin mining toward AI cloud infrastructure, backed by substantial contracted demand. The shares recently closed at $41.83, with a very large 3-year return and a 235.4% gain over the past year, although the stock is down 22.2% over the past week and 4.1% over the past month. That mix of strong multi-year performance and short-term pullback frames how the market is digesting this business shift.
For investors, a central question is whether this AI-centric model and long-term Microsoft contract…
