Babyfolio
Software Engineer, AI Infrastructure Investor
IREN's deal economics, not the Anthropic name alone, will determine whether locked-in demand earns good returns. The reported deal is good news, but its terms remain unknown, and a buyer that large can negotiate hard on price. IREN should do well: it still has more capacity to sell and is expected to charge a premium for it. x.comÂ
IREN's risk/reward looks pretty good if management keeps delivering, and it has executed well so far. The founding brothers' compensation remains hard to look past: being founders does not entitle them to anything they wish without regard for shareholders, and for now they are getting rich without their shareholders. x.com x.com x.comÂ
A reported Anthropic compute deal could bring more demand for IREN's capacity. Kalshi Finance reports a multi-year agreement, though the deal is still described as in the works. IREN remains a screaming deal because more compute is needed and it can supply that market. x.com x.com x.comÂ
A reported multiyear Anthropic cloud deal would be a major positive for IREN by adding contracted compute demand. The Information reports an agreement that has not been publicly disclosed; Anthropic could be the anonymous frontier AI lab customer IREN management previously mentioned. Its value and terms are unknown, and a link to the 50MW of NVIDIA B300 capacity due online at Childress this year is market speculation. x.comÂ
IREN's lack of transparency on its biggest contract makes it hard to underwrite. It signed a multi-year deal with a leading frontier AI lab without naming the lab or the value, so the credit risk could be OpenAI's or a far weaker lab's. Nebius names and sizes its deals with Microsoft, Meta and Reflection. NDAs are usually the customer's demand, but the thesis rests on contracted revenue converting while IREN lost $684 million last quarter and funds its buildout partly through a $6 billion ATM. … Show more
IREN's newly signed multiyear deal with Anthropic should drive a big pop in the stock within 15 minutes. x.comÂ
IREN holders could see insane upside when Anthropic goes public soon after its reported multiyear cloud deal with IREN. Per The Information, Anthropic signed a cloud deal with IREN; the stock rose over 7% on the partnership report. x.comÂ
IREN's predatory management and markedly weaker execution than Nebius make it hard to take seriously while Mike Alfred remains on its board. Barring an oversold bounce, IREN looks cooked big time with more time. x.com x.comÂ
IREN's reported multi-year deal with Anthropic brings bullish news as the stock tests support, per Mr. Derivatives. x.comÂ
IREN's $363 million in GPU-backed financing makes it a bet to survive neocloud consolidation. Elon Musk warned that drying debt markets could kill or consolidate many of the 200-plus neoclouds, leaving only a few survivors; IREN secured funding in that very market. x.comÂ
IREN's low-margin bare-metal business is being financed on uncontracted future capacity, so rising opex and added financing will pressure it. A Goldman Sachs report now flags exactly that: extra financing supports a material amount of uncontracted capacity, the Secured Power metric IREN touts. Most AI data center leasing models will be pressured in some way, and IREN is the most obvious example. x.comÂ
An Anthropic deal adds a catalyst to the bullish case for IREN. A double smart-money zone on the chart also underpins the 'send it' call. x.comÂ
