Fin

$IREN

[Fin @FinGigawatt]

Ah there it is! As we heard a week ago, $META, had some excess compute to re sell.

But this was a lie.

From conversations at RAISE, there is still insatiable demand for Compute and there are NO IDLE GPUS anywhere. $IREN @IREN_Ltd

I learnt a lot of companies have sold off their compute too early, especially companies favouring co-location, who are stuck in 20 year deals, and rushed to sell.

Power now is more valuable than it was two months ago. Frontier Labs, Hyperscalers etc, want a partner who can deliver a data center ON TIME, and not just selling off spare compute which won’t be energized till late 2027, and 2028.

I don’t know anyone in the industry who feels like they have too much compute,” he said. Meta is currently using all the computing power in its arsenal, he added.

https://t.co/CSIR4AEDO7

[Fin @FinGigawatt]

@RaiseSummit is now done.

What an amazing week, I had some great conversations with people in the industry, in particular at @IREN_Ltd $IREN, and learnt so much.

More bullish than ever.

[Lando @LandoInvests]

Just got done hosting my first space ever on $IREN at @RaiseSummit

In the space we covered a few new developments for IREN that are EXTREMELY bullish. I'm really glad we were able to get members from retail to go, and I believe they're having a good time as well

If you want to learn what's happening with IREN Cloud I highly recommend listening to the space. Special thanks as well to everyone that came:
- @Kaizen_Investor
- @bitcoinbutcher1
- @JKacprzak97431
- @__d_1ggin
- @Jvmessy
- @FinGigawatt
- @NickGallantin
- @OMCapitalGroup

https://t.co/Rx84G8EqJE

[Lando @LandoInvests]

Alright $IREN crew let's breakdown this post a bit more:

IREN has been networking relentlessly the past few months. There's been lots of unsettled investors, questionable decisions, and little communication between management + the rest of the world.

With that said, I believe we're in the quiet period before multiple announcements.

Let's review May 1 - Present:

‣ Energized Sweetwater 1 (1.4GW)
‣ Acquired @MirantisIT for $625 Million
‣ Secured a 5-year, $3.4 billion contract to provide cloud services using air-cooled Blackwell GPUs for @nvidia
‣ Granted NVIDIA a 5-year right to buy up to 30 million shares of IREN stock at a fixed $70/share
‣ Acquired Ingenostrum (Nostrum Group) locking down 490MW of grid-connected capacity in Spain
‣ Announced and Priced Upsized Convertible Notes Offering (Due to overwhelming institutional demand, the deal was upsized from $2.0 billion to $2.6 billion within 24 hours)
‣ Closed $3.0 Billion Convertible Senior Notes & Capped Calls @ 1.00% (Insane!!)
‣ Acquired Awaken Agency
‣ Projected $4.4 Billion ARR Target
‣ Secured $3.65B GPU Financing: Closed an investment-grade, asset-backed financing facility to buy GPUs, while partnering with $BE Networks to roll out custom "AI Factories" using NVIDIA DSX architecture
‣ Announced First Australian Data Center Campus in APAC (800 MW)
‣ Completed Acquisition of Nostrum Group
‣ Jefferies Initiates Coverage with a Huge $79 Buy Rating
‣ @warriors Golden State Warriors Jersey Partnership (visibility in the Bay)
‣ Added to the Large-Cap Russell 1000 Index
‣ Poached Key Executives from Oracle and Google: Appointed Kambiz Aghili (former VP at Oracle Cloud Infrastructure) as Chief Product Officer and Michael Nudelman (former Google infrastructure lead) as Chief Development Officer
‣ Shortlisted for a Mind-Boggling $15B–$22B Anthropic Deal in Australia: A confidential Request for Proposal (RFP) leaked by The Australian Financial Review revealed that @Anthropic is seeking 1.4 Gigawatts of data center capacity in Australia

Now that we've reviewed I'm going to give you the pieces, and I'll let you put the puzzle together:

‣ RAISE Summit starts today for @IREN_Ltd, I'm going to breakdown IREN, Mirantis, and NVIDIA by teams:
1. IREN: Kent Draper (Chief Commercial Officer), Gabriel Nebreda (Head of Spain Operations), Chris Parker (Chief Marketing Officer), and Denis Skrinnikoff (Chief Technology Officer)
2. Mirantis: Alex Freedland (Co-Founder & CEO) and Shaun O'Meara (Chief Technology Officer)
3. NVIDIA: Paolo Guglielmini (Vice President EMEA), Rod Evans (VP Supercomputing & AI Cloud Infrastructure EMEA), Dion Harris (Senior Director, HPC & AI Infrastructure GTM), and Boris Neiman (Solutions Architect Manager)

‣ What does EMEA stand for?
- Europe, Middle East, and Africa
‣ Why is it important?
- EMEA represents a highly fragmented regulatory environment (driven by the European Union's strict GDPR, AI Act, and data sovereignty mandates). It symbolizes the push for countries to build and control their own computing power, data, and models within their actual geographic borders. (sounds a lot like IREN right?)
- IREN engaging heavily with the EMEA heads of NVIDIA symbolizes an attempt to become the premier alternative cloud provider for an entire hemisphere that is actively looking to reduce its total dependence on traditional US hyperscalers.

‣ Why is Spain important for IREN? (490MW)
- Spain has abundant renewable energy and strong fiber infrastructure. By connecting directly with Paolo Guglielmini (NVIDIA VP EMEA, who leads regional Sovereign AI deployment), IREN is signaling that Spain is their beachhead to become the primary Sovereign-Ready cloud alternative for the entire European Union

Closing Statement:
I don't believe for one second that IREN raised billions of dollars (via notes or ATM), bought an ad-heavy headline slot at RAISE/GSW sponsporship, gave themselves an egregious pay package, and gave NVIDIA millions of equity warrants just to sit there and do nothing.

They locked down a massive position in the European energy pipeline (Nostrum), integrated an automated enterprise cloud software stack (Mirantis), poached elite hyperscale operators from Oracle and Google, and built their entire footprint natively inside NVIDIA’s structural reference framework (DSX/DGX).

By sitting on panels with NVIDIA’s highest-level EMEA execution and infrastructure teams right now, they're sending a massive signal: They have built a fully vertical, renewable-energy-backed, sovereign-ready AI Cloud alternative.

Can you solve it?
https://t.co/UtQWs4UxDA

[Fin @FinGigawatt]

$IREN

Soon.

[Kylian Mbappé @KMbappe]

Madame Celeste Amarilla,
Vous êtes une femme méprisable et indigne de sa fonction.
Vous ne représentez pas le Paraguay, ce pays qui a transpiré la passion et l’honneur tout au long de la compétition. Par votre inconscience et votre racisme décomplexé, le monde entier a déjà oublié le parcours et l’effort historique que vos joueurs ont réalisés durant cette coupe du monde pour laisser place à une dame incompétente donnant la pire image possible de son pays.
Je ne laisserai jamais aux gens comme elle, la liberté de laisser propager leur haine et leur racisme à travers le monde.

[Fin @FinGigawatt]

@BullflowIO @FL0WG0D did you miss this?

[Lando @LandoInvests]

$IREN community it is now time for RAISE WEEK

I would like to thank @HenriDelahaye again for the opportunity he's given retail by donating multiple tickets, thank you Henri!

With that said here's some investors going:
- @Kaizen_Investor
- @__d_1ggin
- @Jvmessy
- @finlithium
- @dialogmann
- @NickGallantin
- @JKacprzak97431
- @OMCapitalGroup
- @hochberg_

Right now I plan on co-hosting a space with @Kaizen_Investor one of the nights to discuss some of the keynotes, business meetings, and any potential news/clarity on the recent $IREN developments!

While this is IREN focused, as investors we will be focused on the summit as a whole. There will be speakers from OpenAI, Broadcom, Google, Anthropic, NVIDIA, AMD, and many other AI leaders.

This is an amazing opportunity for retail to get involved as tickets are thousands of euros, thank you again @HenriDelahaye and @RaiseSummit!

For those saying it's "just another conference" @EmmanuelMacron will be speaking the first day, I don't think that happens too often for a normal event...

I'll leave it at that. If you have any questions or would like to be on the spaces to discuss anything please let me know! (date/time is still TBD)

cc: @FransBakker9812 @jiahanjimliu @_Sgr_A_Star

https://t.co/Pns4bCiAKC

[Fin @FinGigawatt]

@danroberts0101 $IREN

[Preeti @MadridPreeti]

Me in front of the TV helping Portugal beat Croatia in the 2nd Half

[Fin @FinGigawatt]

@FransBakker9812 @bitcoinbutcher1 Have a great weekend.

This will pass.

Lets look forward to RAISE next week. 🇫🇷

[TC @totalcristiano]

What a picture.

[Fin @FinGigawatt]

@IREN_Ltd

[Ayushi☄️ @iyoushetwt]

Meta invested $73B into this

[Rittenhouse Research @RHouseResearch]

In March, Meta signed a $27B cloud services deal with Nebius. In April, Meta signed a $21B expansion of their cloud services agreement with CoreWeave.

Two weeks ago, Bloomberg reported that Meta signed up to rent 1.6GW of data center capacity from Crusoe. And just 3 days ago, the Financial Times reported that Google had capped Meta's use of Gemini because of capacity constraints.

And now all of a sudden, Meta actually has excess capacity?

In reality, I suspect Meta looked at SpaceX's valuation and recent deals to sell excess capacity.. And came to the conclusion that investors will look favorably upon any willingness to monetize their capacity externally.. Which will give their share price some relief, and allow them to raise capital.. Which they'll use to buy and build more compute capacity, lol.

$META $GOOG $NBIS $CRWV

[Paul Prager @PaulBPrager]

The headline is "excess AI compute." I think the bigger story is the continued evolution of AI infrastructure.

As AI matures, the largest platforms will find new ways to monetize compute, making world-class infrastructure accessible to a much broader universe of companies that can't justify building their own AI campuses.

That only expands the addressable market.

Reliable power, scalable campuses, and experienced operators remain the scarce resources.

Demand for AI infrastructure remains exceptionally strong – and that's exactly where $WULF is positioned.

[Fin @FinGigawatt]

Has the market even read the details?

Just algos selling off Neoclouds $IREN

The company’s plans are still in development, and it’s possible the strategy could change.

They talked about this in their $META shareholder meeting in May.

[amit @amitisinvesting]

@TickerTapX well it might imply that we are not compute constrained if META has excess compute…implying the demand cycle being infinite for semis may not be as aggressive as people think

too early to tell but thats probably why we are seeing the selloff on semis

[Frans Bakker @FransBakker9812]

Imagine having $15,000,000,000.00 of optional AI compute in your $27,000,000,000.00 AI cloud "deal", that just vanished overnight.
$NBIS

[Fin @FinGigawatt]

@DeItaone $IREN

[Fin @FinGigawatt]

@TobyRNeugebauer vote WHITE!