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IREN misses revenue expectations with $144.8M, boosted by Nvidia deal but faces high costs.

Company Fundamentals
19 May 2026
Seeking Alpha
View Source
Neutral
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IREN reported $144.8 million in revenue, falling short of the $219 million expected, with AI cloud revenue at $33.6 million sequentially. A significant $3.4 billion agreement with Nvidia and 600,000 GPU-linked warrants enhanced IREN's infrastructure and hyperscaler position. However, operating cash flow was only $75 million, while capital expenditures surged to about $1.36 billion amid expansion efforts. The company’s valuation depends on successful hyperscale execution, with long-term revenue projections potentially exceeding $11 billion annually by 2030.

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