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← IREN
Mon, Jul 20, 2026

IREN signs $2.8bn in new customer contracts, raises 2026 ARR target to over $4bn

Source file ↗

Key points

  • New multi-year AI cloud services contracts worth $2.8 billion in total contract value with leading AI developers
  • Customer base now includes Microsoft, NVIDIA, Perplexity, Figure AI, Together AI, Fluidstack, Fireworks AI, Fal AI and Hume AI, across bare metal and managed cloud services
  • ~85% of the raised $4bn+ year-end ARR target is now under contract; new contracts include customer prepayments representing ~45% of associated GPU capex

Deal

Perplexity, Figure AI, Together AI, Fluidstack, Fireworks AI, Fal AI, Hume AIJul 2026
Contract value$2.8B
Duration~4 years (weighted average)