IREN presents growth outlook by pivoting infrastructure to AI cloud business
IREN IREN Ltd
$18.17 -6.72%
View chart & analysis → - 1IREN is pivoting its infrastructure to the rapidly growing AI cloud business.
- 2IREN's $20.3 billion backlog and improving GPU economics support the growth outlook.
- 3IREN's delayed annual revenue target of $4 billion and the $6 billion IREN still needs to raise could determine the pace of profit realization and stock price recovery.
So what's the key point?
IREN is converting its facilities into an artificial intelligence service business. With $20.3 billion in work already lined up, future growth is expected.
Source The Motley Fool +1 · View original ↗
Today's 5 AI picks, all freeNothing hidden: past picks and how they did against the S&P 500.