IREN Moves Its $4 Billion AI Cloud Goal Into 2027, With $6 Billion of Capex Yet to Be Financed
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IREN has pushed its $4 billion AI cloud revenue target into 2027, citing a customer-requested change and supplier timing, even as AI cloud revenue reached $200 million last quarter. The bitcoin miner turned AI cloud provider still has roughly $6 billion of capital expenditure left to finance. The delay matters because IREN is betting its mining-derived infrastructure can capture AI compute demand, and the slipped timeline raises questions about how quickly that revenue will materialize. Watch how IREN funds the remaining capex and whether supplier and customer schedules hold.
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