This comes on the heels of securing new multi-year cloud services contracts valued at $2.8 billion with leading AI developers such as Microsoft, NVIDIA and Perplexity.Raises AI Cloud ARR Target After $2.8B ContractsIREN has raised its year-end AI Cloud annualized run-rate revenue forecast from $3.7 billion to over $4 billion, with approximately 85% of this now under contract.Demand continues to exceed available and planned capacity, with IREN engaged across its 2026 and 2027 expansion pipeline.Recent contracts include customer prepayments covering around 45% of GPU capital costs, lowering funding needs, while contracts carry a weighted average term of about four years.The new contracts reflect strong demand from hyperscalers and enterprises, further solidifying IREN’s position in the AI cloud infrastructure market.As of June 30, 2026, IREN had approximately $7.6 billion in cash and cash equivalents.IREN Technical Outlook: Momentum Vs Key Moving AveragesThe stock’s current price of $36.68 is significantly below its moving averages, with the 20-day simple moving average (SMA) at $44.22, indicating a 16.9% decline from this level. The MACD is currently below its signal line, suggesting that upside momentum is fading unless it can reclaim that baseline, which could be a critical point for traders to watch.IREN Earnings Preview: Next Update Date And Analyst EstimatesIREN is slated to provide its next financial update on August 27, 2026 (estimated).