Neocloud Iren signs $2.8bn in customer contracts, raises 2026 annual run rate to $4bn+

AI cloud Iren has secured $2.8 billion in new multi-year cloud services contracts.

As a result, the company has increased its expected annualized revenue run rate (ARR) for 2026 from $3.7 billion to more than $4 billion.

Iren says that with the new deals, it has around 85 percent of its target ARR under contract.

The newly signed cloud service agreements have been made with unnamed "leading AI developers."

While Iren did not detail the identity of the customers, it does note that its customer base now includes Microsoft, Nvidia, Perplexity, Figure AI, Together AI, Fluidstack, Fireworks AI, Fal AI, Hume AI, and a "new leading AI developer," which are using its bare-metal and managed cloud services.