IREN Watch posted an update
IREN has pushed its target of more than $4bn in annual recurring revenue from AI cloud operations from December to January, with a possible slip into late February if equipment arrives late. Its AI cloud sales nearly quadrupled to $200m in the fiscal first quarter, according to Yahoo Finance’s account of a GuruFocus article.
Why it mattersThe article says AI cloud made up most of IREN’s $228m in total revenue, while the company lowered its projected capital investment for the rest of the fiscal year to about $15bn. Management attributed the delay to equipment deliveries and project modifications. The build-out is growing, but the timetable is doing its own thing.
Discuss: For AI infrastructure companies, should investors put more weight on rapid revenue growth or on whether promised capacity arrives on time?
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