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IREN AI, an AI cloud service provider, sees contract pricing surge by 125% to $25 million/MW; stock up over 26% in a week.
AI cloud service provider IREN (NASDAQ:IREN) has seen a significant increase in its AI contract pricing, with three-year contract prices surging 125% since November last year, and active negotiations currently reaching $25 million per megawatt. The company has deepened its cooperation with NVIDIA, signing a $3.4 billion five-year cloud contract and receiving up to $2.1 billion in equity investment from NVIDIA. Driven by this, IREN's stock price rose by 26.04% between August 28 and September 4, with its market capitalization approaching $17.6 billion. The company aims to achieve $4 billion in contracted annualized recurring revenue (ARR) by the end of 2026.
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