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IREN reported fiscal first-quarter revenue of $228 million, topping Wall Street expectations, but disclosed that more than $4 billion in annualized recurring revenue planned for 2026 has slipped to early 2027 following network upgrades requested by Microsoft.
Data center operator IREN recontracted older Nvidia H100 processors at double their original leasing rates, co-CEO Daniel Roberts said on an earnings call, pointing to persistent demand for previous-generation AI hardware.
IREN posted a 182% sequential jump in AI cloud revenue to $200 million and rescheduled its $4 billion annualized run-rate milestone to early 2027 following Microsoft-requested design revisions.
Hugging Face Chief Policy Officer Irene Solaiman discussed how startups navigate tooling, costs, and value capture in open-source AI on TechCrunch's Equity podcast.
Two former Anthropic and Google researchers launched the company at a $1 billion valuation with backing from Andreessen Horowitz, Kleiner Perkins and Nvidia.
