secwatch.observer — SEC 8-K summary
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Issuer:     IREN Ltd (IREN)
CIK:        0001878848
Form:       8-K
Filed at:   2026-07-20T11:12:27+00:00
Accession:  0001140361-26-028871
Event type: other_material
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IREN signs $2.8bn in AI cloud contracts, raises 2026 ARR target to >$4bn
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- New multi-year cloud services contracts with leading AI developers total $2.8bn in contract value.
- 2026 AI Cloud ARR target raised from $3.7bn to >$4bn; ~85% now under contract.
- Customer base includes Microsoft, NVIDIA, Perplexity, Figure AI, Together AI, Fluidstack, Fireworks AI, Fal AI, Hume AI, and a new leading AI developer.
- Customer prepayments cover ~45% of associated GPU capex, reducing IREN's net funding requirement.
- Cash and equivalents ~$7.6bn as of June 30, 2026; AI Cloud capacity expanding from 3MW to 480MW in 2026, targeting 1.2GW in 2027.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1878848/000114036126028871/0001140361-26-028871-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1878848/000114036126028871/ef20078253_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-26-028871

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer