Iren delays Microsoft AI deliveries, plans $15b spending
It pushed the timeline for its more than US$4 billion annualized run-rate revenue target from year-end to January.
Australian AI data center company IREN has delayed some infrastructure deliveries for Microsoft while announcing a $15 billion spending plan. Despite a decline in AI stocks, IREN's quarterly revenue beat expectations and its shares rose 4 percent in extended trading. The company is investing heavily in computing equipment and infrastructure to support its AI cloud business.
IREN expects to spend about $15 billion on capital expenditure over the rest of its fiscal year. The delay in Microsoft's infrastructure delivery stems from customer-requested design changes and supplier timing. Microsoft is tightening oversight of neocloud providers, including IREN, amid delays and rising costs.
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