Pre-market up over 10% IREN spent $670 million to purchase NVIDIA and AMD GPUs
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Data center operator IREN Limited announced an investment of approximately $670 million to procure GPUs from NVIDIA and AMD to accelerate its artificial intelligence cloud business growth. This procurement includes 7,100 NVIDIA B300 GPUs, 4,200 NVIDIA B200 GPUs, and 1,100 AMD MI350X GPUs, which is expected to increase its total GPU installation to about 23,000 units. This move aims to support the company's goal of achieving over $500 million in annual recurring revenue from AI cloud business by the end of the first quarter of 2026. Following the announcement, IREN's stock price rose by more than 10% in pre-market trading
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