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AI Data Center Demand Fuels IREN's $3.4B Revenue Goal

1/1/2026

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Summary

Story summary

Artificial intelligence stocks are set for a rally as data centers demand grows, anchored by IREN, an AI data centers company, with a Microsoft contract contributing nearly $2 billion in annual recurring revenue.
IREN benefits from expanding AI workloads.
IREN targets $3.4 billion in AI cloud revenue by end of 2026, up from $16.4 million in 2025.
Energy remains a bottleneck for AI, and IREN's expansion could yield substantial growth.

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Story summary

Artificial intelligence stocks are set for a rally as data centers demand grows, anchored by IREN, an AI data centers company, with a Microsoft contract contributing nearly $2 billion in annual recurring revenue.
IREN benefits from expanding AI workloads.
IREN targets $3.4 billion in AI cloud revenue by end of 2026, up from $16.4 million in 2025.
Energy remains a bottleneck for AI, and IREN's expansion could yield substantial growth.