IREN Limited names two executives to lead AI Cloud expansion and data center development

IREN appoints chief product and development officers By Investing.com

NEW YORK - IREN Limited (NASDAQ:IREN) announced today the appointment of two executives to lead its product and development operations, according to a press release statement. Kambiz Aghili joins as Chief Product Officer and Michael Nudelman as Chief Development Officer, both based in San Francisco. The appointments are part of the company's expansion of its AI Cloud services. Aghili will oversee product strategy for IREN's AI Cloud platform, including bare metal GPU offerings and managed services. He previously served as Vice President of Products at Oracle Cloud Infrastructure, where he led strategy and development of its multi-cloud platform across Amazon Web Services, Microsoft Azure and Google Cloud. Nudelman will lead the company's global data center development strategy and the expansion of its 5GW power portfolio. He brings over 20 years of experience in data center development, energy and finance, having held senior positions at Google, CyrusOne and Beale Infrastructure.The appointments come as IREN shows strong momentum, with revenue growth exceeding 100% in the last twelve months and a market capitalization of $16.34 billion. According to InvestingPro analysis, analysts anticipate continued sales growth in the current year, though the stock has declined 9.3% over the past week. The company operates as a vertically integrated AI Cloud provider, delivering data centers and GPU clusters for AI training and inference. IREN maintains a portfolio of grid-connected land and power in regions across North America, Europe and Asia-Pacific. Daniel Roberts, Co-Founder and Co-CEO of IREN, stated the company's growth depends on securing large-scale land and power in appropriate markets and building infrastructure on top of it. The appointments are designed to strengthen the company's operations across data centers, compute infrastructure and software services as it continues to develop its existing sites and expand into high performance computing solutions.For deeper insights into IREN's financial health and growth prospects, InvestingPro offers 16 additional exclusive tips and comprehensive metrics to help investors make informed decisions. In other recent news, IREN Limited has made significant strides with its recent inclusion in the Russell 1000 Index, effective after market close on June 26. This index is a benchmark for the largest U.S. companies based on market capitalization. Additionally, IREN has completed the acquisition of Nostrum Group, a Spanish AI data center developer. This acquisition provides IREN with approximately 490 megawatts of secured, grid-connected power in Spain, marking its entry into the European market. Furthermore, Jefferies has initiated coverage on IREN with a Buy rating, setting a price target of $79.00. The firm highlighted IREN's unique position among AI infrastructure providers, emphasizing its long-term powered land bank of about 6 gigawatts and its vertically integrated GPU cloud approach. Jefferies also noted that contracts with Microsoft and Nvidia could enable IREN to deliver $3.1 billion in annual recurring revenue. These developments highlight IREN's strategic moves in the AI and data center sectors. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

IREN Limited Announces Executive Appointments

IREN Limited announced the appointment of Kambiz Aghili as Chief Product Officer and Michael Nudelman as Chief Development Officer. These San Francisco-based appointments bring additional depth to IREN?s development and product teams as the Company continues to expand its AI Cloud offering across new markets and services. As Chief Product Officer, Mr. Aghili will lead IREN?s product strategy and roadmap for its AI Cloud platform, including its bare metal GPU offering, managed services and broader product capabilities. He joins from Oracle Cloud Infrastructure, where he served as Vice President of Products, spearheading strategy and development of its native multi-cloud platform across Amazon Web Services, Microsoft Azure and Google Cloud. As Chief Development Officer, Mr. Nudelman will lead IREN?s global data center development strategy and the expansion of its 5GW secured grid-connected power portfolio across existing and new markets, including advancing site planning, permitting and economic development incentives. He brings more than two decades of experience in data center development, energy, finance and management, having held senior roles at Google, CyrusOne and Beale Infrastructure. Together, the appointments strengthen all three layers of IREN?s vertically integrated AI Cloud platform: data centers (power, land, substations, buildings and cooling), compute (chips, storage, servers and networking) and software (managed services and enterprise support).

Iren Names Chief Product, Development Officers

IREN Limited is an Australia-based company, which owns and operates data centers powered by 100% renewable energy. The Company is vertically integrated artificial intelligence (AI) Cloud provider, delivering large-scale data centers and graphics processing unit (GPU) clusters for AI training and inference. Its platform is underpinned by its portfolio of grid-connected land and power in regions across North America, Europe and Asia-Pacific (APAC). Its data centers are optimized for power-dense computing applications and support a combination of GPUs for High-Performance Computing (HPC) and AI services and ASICs for Bitcoin mining. Its data center mining facilities are in Sweetwater, Canal Flats, Mackenzie, Prince George, and Childress. Al Cloud Services provides cloud compute to Al customers, approximately 1,896 NVIDIA H100 and H200 GPUs. Its Canal Flats facility is located on a 10-acre freehold site, directly connected to the BC Hydro power grid through a 30 megawatt (MW).