Interconnecting Intelligence The facts on AI, from demand to buildout.

DemandFinancial disclosure

IREN's revenue backlog rises 22% sequentially to $20.3 billion, about two-thirds with investment-grade counterparties

Contracts are with NVIDIA, Microsoft and 13 other customers. The more than $4 billion ARR target is fully contracted and fully funded, now targeted for January 2027 and possibly extending to February 2027.

Size
$20.3 bn
Companies
IREN, Microsoft, NVIDIA
Source
IREN Ltd 8-K, filed Nov 5, 2026
Published here

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