IREN
GPU neoclouds · APAC
IREN had a market capitalisation of $10.6B on 16 October 2026 (listed as IREN; updated every weekday from the market price).
Nasdaq-listed Australian AI data-centre operator - the third of the map's bitcoin miners turned AI infrastructure, after Hut 8 and TeraWulf, and the one that operates the GPU cloud itself rather than only leasing the building.
- Valuation
- $10.6B
- Confidence
- verified
- As of
- 16 October 2026
- Layer
- GPU neoclouds
- Ticker
- IREN
- Signal
- $9.7B Microsoft contract
- Website
- iren.com
Relationships (4)
Valuation history on the map
| Date | Mark | Change |
|---|---|---|
| 15 October 2026 | $12B | -12.7% |
| 13 October 2026 | $13.7B | -1.1% |
| 11 October 2026 | $13.9B |
Daily snapshots began 27 July 2026. Public companies move with the market every weekday.
Notes
Nasdaq-listed Australian AI data-centre operator - the third of the map's bitcoin miners turned AI infrastructure, after Hut 8 and TeraWulf, and the one that operates the GPU cloud itself rather than only leasing the building. Signed a five-year, ~$9.7B AI cloud contract with MICROSOFT on 2025-11-03 to deliver NVIDIA GB300 capacity across four liquid-cooled Horizon buildings at its Childress, Texas campus, about 200 MW of IT load, with 20% prepaid; it bought the GPUs and ancillary equipment from Dell for about $5.8B, raised a $3.65B debt package against the Microsoft contract in June 2026, and delivered the first Horizon building in August 2026. Signed a separate five-year, ~$3.4B managed AI cloud contract with NVIDIA itself on 2026-05-07 - air-cooled Blackwell systems in roughly 60 MW of existing Childress capacity, for NVIDIA's own internal AI and research work, with orchestration software built alongside Mirantis, and a five-year right for NVIDIA to buy up to 30 million IREN shares at $70. So NVIDIA is simultaneously its silicon supplier, a customer and a prospective shareholder. Contracted AI cloud revenue is roughly $4B of annualised run-rate for 2026 capacity against a 2.9 GW development pipeline, so the headline contract values are a claim on counterparty credit rather than booked revenue. The Information reported on 2026-10-11/12 that ANTHROPIC holds an unannounced multiyear cloud agreement with IREN, with the value and length not disclosed and neither company confirming it; the shares rose about 5% on the report, and the deal may be the unnamed AI cloud customer IREN referred to on an earlier earnings call, which is speculation rather than a company statement. Fiscal 2027 capex is guided at $25-30B.
Sources
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Last updated 16 October 2026. Follow IREN in any feed reader to hear when its valuation moves.
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