Welcome to our dedicated page for IREN news (Ticker: IREN), a resource for investors and traders seeking the latest updates and insights on IREN stock.
IREN Limited reports developments in AI cloud infrastructure, large-scale data centers and GPU clusters for AI training and inference. Company updates cover managed GPU cloud services, customer contracts, NVIDIA platform deployments, hardware procurement, and the buildout of grid-connected data center capacity in renewable-rich regions.
Recurring IREN news also includes financial results, conference-call materials, site energization milestones such as Sweetwater 1, and capital actions including convertible notes and ordinary-share issuance programs. The company’s updates connect data center power availability, GPU deployment, customer workloads and capital funding to its vertically integrated AI cloud platform.
IREN (NASDAQ: IREN) closed a private offering of $3.0 billion aggregate principal amount of 1.00% convertible senior notes due 2033 to qualified institutional buyers under Rule 144A. Net proceeds are about $2.96 billion, including a fully exercised $400 million greenshoe.
IREN plans to spend $201.3 million on capped call transactions and the remainder on general corporate purposes and working capital. The capped calls, with a cap price of $110.30 per share (100% above the May 11, 2026 share price), are expected to reduce potential dilution up to the cap.
IREN (NASDAQ: IREN) priced an upsized $2.6 billion private offering of 1.00% convertible senior notes due 2033 to qualified institutional buyers under Rule 144A. The notes carry a 32.5% conversion premium, initial conversion price of $73.07, and are supported by capped call transactions with a $110.30 cap.
Estimated net proceeds are $2.57–$2.96 billion, with about $174.5 million allocated to capped calls and the remainder for general corporate purposes and working capital.
IREN (NASDAQ: IREN) plans a private offering of $2 billion convertible senior notes due December 1, 2033, to qualified institutional buyers under Rule 144A, with an option for an additional $300 million.
Proceeds will fund capped call transactions and be used for general corporate purposes and working capital.
IREN expects new capped calls to limit dilution from conversions and will partially unwind existing 2029 and 2030 capped calls. Related hedging and unwinding by counterparties may affect the trading prices of IREN shares and the notes.
IREN (NASDAQ: IREN) signed a five-year AI infrastructure cloud services contract with NVIDIA valued at approximately $3.4 billion on May 7, 2026. The deal grants NVIDIA access to managed GPU cloud services, orchestration and cluster management software (with Mirantis), served by air-cooled Blackwell systems across ~60MW at IREN's Childress, Texas campus.
The agreement emphasizes managed cloud delivery (not just bare metal) and uses existing Childress data center capacity for deployment.
IREN (NASDAQ: IREN) reported Q3 FY26 results and a business update on May 7, 2026. Key items: a $3.4bn, 5-year AI Cloud contract with NVIDIA plus a strategic 5GW partnership including rights to buy up to 30M shares (~$2.1bn). Q3 revenue was $144.8m, net loss $(247.8)m, and adjusted EBITDA $59.5m. Company said $3.1bn ARR is contracted and it is targeting $3.7bn ARR by year-end 2026. Near-term expansions: 480MW on track for 2026 and 1,210MW in build for 2027. Cash was reported at $2.6bn as of Apr 30, 2026.
IREN (NASDAQ: IREN) agreed to acquire Ingenostrum, S.L. (Nostrum Group), a Spanish next-generation data center developer, marking IREN’s entry into Europe and expanding its power portfolio to 5GW.
The deal adds approximately 490MW of secured, grid-connected power in Spain, a development pipeline, and local teams across development, engineering, construction, and operations. Completion remains subject to customary closing conditions.
IREN (NASDAQ: IREN) agreed to acquire Mirantis for an aggregate consideration of approximately $625 million paid in IREN ordinary shares. Mirantis provides cloud infrastructure, Kubernetes orchestration, enterprise support and the k0rdent AI platform and serves over 1,500 enterprise customers.
The acquisition aims to strengthen IREN’s AI Cloud delivery across deployment, operational visibility, customer support and market access. Mirantis will operate as a standalone subsidiary. Closing is subject to customary conditions, including regulatory approvals.
IREN (NASDAQ: IREN) announced energization of its 1.4GW Sweetwater 1 data center site in Texas on May 1, 2026. Energization connects the site's high-voltage substation to the ERCOT grid and advances development of the broader 2GW Sweetwater campus.
Power delivery at Sweetwater 1 will ramp progressively with phased construction and commissioning, enabling grid-connected capacity to support AI infrastructure and reduce customers' time-to-compute.
IREN (NASDAQ: IREN) will release its financial results for the three months ended March 31, 2026, on Thursday, May 7, 2026, and will host a conference call and live webcast beginning at 5:00 p.m. Eastern Time. A Q&A session will follow the results.
The live webcast will be recorded and a replay will be accessible shortly after the event at https://iren.com/investor/events-and-presentations. Phone dial-in participants must register to receive dial-in numbers, passcode and PIN; webcast participants may pre-submit or submit questions live.
IREN (NASDAQ: IREN) agreed purchase contracts for over 50,000 NVIDIA B300 GPUs, expanding its total fleet to 150,000 GPUs and targeting phased deployment through H2 2026 across Mackenzie, British Columbia and Childress, Texas data centers.
The 150,000 GPU fleet is projected to support >$3.7bn AI Cloud annualized run-rate revenue by end-2026. IREN said it secured $9.3bn of funding in the past eight months and expects to finance ~$3.5bn of additional capex in H2 2026; payment terms are post-shipment. An at-the-market equity program was also established.