IREN

IREN Secures $3.65 Billion A-Rated Financing for Microsoft AI Buildout Australian Bitcoin miner-turned-AI infrastructure company IREN (formerly Iris Energy) has secured a $3.65 billion A-rated debt financing package to fund its Microsoft AI data center contract. The deal covers approximately 96% of the GPU spending required to fulfill the Microsoft agreement. The financing marks one of the largest single rounds in the AI infrastructure sector and signals Wall Street’s growing confidence in Bitcoin mining companies’ pivot to AI compute. IREN’s existing power infrastructure and data center expertise positions it as a key player in the rapidly expanding AI data center market. ...

[Brief] Wall Street firm Bernstein set a $100 price target for AI compute company IREN, citing its $3.4 billion NVIDIA AI chip procurement deal as a key catalyst. IREN is pivoting from Bitcoin mining to AI infrastructure, and the target sits well above current trading levels, reflecting sustained optimism about the AI compute sector. Source: The Block