IREN To Increase AI Cloud Services To 10% Of Earnings; Co-Founder Says 'We're seeing strong levels of demand for new-generation GPUs. Ongoing discussions with NVIDIA and participation in their Cloud Partner Program gives us added confidence in deploying this new capacity'
Portfolio Pulse from Benzinga Newsdesk
IREN plans to expand its AI cloud services to account for 10% of its earnings, driven by strong demand for new-generation GPUs. The company is in discussions with NVIDIA and is part of NVIDIA's Cloud Partner Program, which boosts its confidence in deploying new capacity.
September 16, 2024 | 2:02 pm
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POSITIVE IMPACT
IREN is set to increase its AI cloud services to 10% of its earnings, supported by strong GPU demand and collaboration with NVIDIA. This strategic move could enhance IREN's revenue and market position.
IREN's plan to expand AI cloud services is significant as it aims to make up 10% of its earnings. The strong demand for GPUs and partnership with NVIDIA, a leader in the GPU market, provides a solid foundation for this growth. This is likely to positively impact IREN's revenue and market position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
NVIDIA is in discussions with IREN and has included them in its Cloud Partner Program, indicating strong demand for its new-generation GPUs. This partnership could boost NVIDIA's sales and market influence in the AI cloud sector.
NVIDIA's collaboration with IREN and inclusion in its Cloud Partner Program suggests strong demand for its GPUs, which could lead to increased sales and strengthen its position in the AI cloud market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70