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Stock impact report

IREN's AI Client Base Expands: Is Growth Becoming More Durable? [Yahoo! Finance]

TeraWulf Inc. (WULF) 
Company Research Source: Yahoo! Finance
Beyond the highly visible $9.7 billion Microsoft AI cloud agreement, the company has added several multi-year AI cloud customers, including Together AI, Fluidstack and Fireworks AI. These wins are expected to contribute more than $500 million in AI Cloud ARR by early fiscal 2026, even before Microsoft-related revenues scale materially. The impact of diversification is now evident in IREN's operating metrics. In the first quarter of fiscal 2026, the company posted a fifth straight quarter of record revenue, reaching $240 million, suggesting growth is becoming more consistent rather than event-driven. Management also pointed to pre-contracted GPU deployments at its Canadian facilities, a clear indicator of forward demand and improved revenue predictability across its AI customer base. Industry dynamics are increasingly supportive of IREN's positioning. AI compute demand is surging across hyperscalers, AI-native labs and enterprise users, while supply remains bottlenecked by limited Show less Read more
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