Daniel Roberts ✓

@danroberts0101 @StichL83 Great context Dan. Few have this much visibility into the different demand / supply dynamics across the AI industry than you guys. This sort of transparency goes a long way! 5.8K views · 183 likes · 5 reposts · 0 replies Open on X →

@danroberts0101 Love the transparency recently Dan! Keep up thee good work, we shareholders really appreciate it! 7.3K views · 153 likes · 2 reposts · 0 replies Open on X →

@danroberts0101 Dan, it would be great if you and the team could coordinate with client and explain the existing and future use cases of AI. Most notably, the market is missing the future growth in physical AI. Also, your team from the get go chose to diversify its base by inte 4.1K views · 116 likes · 1 reposts · 4 replies Open on X →

A few people asked over the weekend what the calls to slow the pace of frontier AI mean for the buildout. Some thoughts: Even if models never improved from here, just rolling out what they can already do would take more compute than the world can build for years. The debate 811.3K views · 2.8K likes · 424 reposts · 181 replies Open on X →

@danroberts0101 @IREN_Ltd Thank you for playing the IR game more aggressively. You are your own best advocate for $iren 10.1K views · 275 likes · 5 reposts · 2 replies Open on X →

9. The next 12-18 months are all about execution, and the delay chatter was constant. 3 sites commissioning between now and year end, 4,000+ people on the ground. We're in the spotlight, and it's delivery time. 32.6K views · 875 likes · 31 reposts · 25 replies Open on X →

8. The enterprise wave is the one to watch (and really excites us internally). Enterprise AI needs virtualization, security, compliance and real support. Early conversations are starting. When that demand hits, software and services on the same MWs can expand margins materially. 26.8K views · 398 likes · 19 reposts · 2 replies Open on X →

7. One thing that came up in every meeting: we don't pay for GPUs until 30 days after they ship. Prepayments arrive at signing, lenders commit before delivery, the hardware bill comes last. The buildout is largely funding itself as it goes and the payment terms give us 24K views · 389 likes · 17 reposts · 2 replies Open on X →

6. Most direct question of the week, and the fairest: can you operate cloud at hyperscale, not just build data centers? It's the area we've been building hardest. Headcount roughly tripled in 12 months, with serious operators joining. Mirantis brought two decades of running 28.7K views · 443 likes · 19 reposts · 3 replies Open on X →

5. The biggest debate on our stock: the gap between $71m of quarterly AI Cloud revenue and $1bn of ARR operating, $4bn contracted for year end. Is it real, and will we deliver. Some disappointment with last quarter traces to ramp assumptions that ran ahead of anything we guided. 46K views · 495 likes · 22 reposts · 6 replies Open on X →

4. Everyone's watching execution. Operators deciding who to join. Customers deciding who's reliable. Lenders deciding who to back. Execute well and all three compound for you. Struggle, and they compound against you. Us included. 27.7K views · 408 likes · 13 reposts · 1 replies Open on X →

3. Nobody asked about colo. A year ago it was every 2nd question. ~3 year paybacks on the full stack, with customers and lenders funding >100% of the GPU cost, seems to have settled it. 30.5K views · 400 likes · 11 reposts · 1 replies Open on X →

2. The forward-contracting question has flipped 180 degrees. Not long ago it was "wen deal". This week: how long can you hold your capacity available. The structural point is being understood: only half a dozen companies in the world can contract capacity 12-18 months ahead of 74.2K views · 552 likes · 24 reposts · 15 replies Open on X →

1. Investors are becoming immune to $20-40bn mega-deal announcements. They understand why the deals get done: for customers, a cheap call option if the neocloud delivers before the termination date. For emerging neoclouds, the announcement raises the capital to launch. Both 59.5K views · 532 likes · 27 reposts · 10 replies Open on X →

Goldman's CommTech conference, San Francisco. 48 hours of @IREN_Ltd investor meetings, and the mood has shifted meaningfully. Key takeaways: 435.5K views · 2.1K likes · 281 reposts · 165 replies Open on X →

Daniel Roberts ✓@danroberts010127 Aug

The constraint in this industry is delivery, not demand. 4,000+ people on sites across three continents, bringing compute online. 143.4K views · 1.2K likes · 91 reposts · 247 replies Open on X →

Daniel Roberts ✓@danroberts010127 Aug

Execution at scale. From Childress and Sweetwater in Texas to Mackenzie, Prince George and Canal Flats in British Columbia. IREN is building across multiple campuses simultaneously, with development advancing at Kiowa (Oklahoma), Bundey (Australia) and Badajoz (Spain). Over htt 234K views · 1.4K likes · 174 reposts · 92 replies Open on X →

Daniel Roberts ✓@danroberts010115 Aug

Every new AI data center creates more demand for AI, not less. That's what people referring to past booms keep getting wrong about this one. Better AI needs more computing power to run. Cheaper AI gets used more, not less. And every step change in capability creates use cases 506.3K views · 2.3K likes · 286 reposts · 228 replies Open on X →

Daniel Roberts ✓@danroberts010113 Aug

Nine months ago we signed a contract. Today Microsoft has accepted delivery of Horizon 1: 50MW of direct-to-chip liquid cooled AI infrastructure, built, commissioned and handed over. A greenfield build of this scale typically takes 2-3 years. Owning the land, the power, the 262.2K views · 3.1K likes · 303 reposts · 205 replies Open on X →

@danroberts0101 Beuatifully written! $IREN is on a path towards global domination. It’s obvious to anyone who has been paying attention, yet most investors are missing the forest for the trees. 12.8K views · 301 likes · 15 reposts · 7 replies Open on X →

A thread on where AI infrastructure is heading - and where IREN fits. 🧵 386.7K views · 1.3K likes · 130 reposts · 121 replies Open on X →

𝐓𝐡𝐞 𝐑𝐨𝐚𝐝 𝐀𝐡𝐞𝐚𝐝 IREN has been building Layer 1 for eight years. We are deploying Layer 2 at scale right now. And with Mirantis, we have taken the first deliberate step toward Layer 3. The physical infrastructure advantage comes first. Everything else compounds from 36.5K views · 600 likes · 39 reposts · 31 replies Open on X →

𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐓𝐡𝐞 𝐁𝐫𝐚𝐧𝐝 𝐓𝐨 𝐌𝐚𝐭𝐜𝐡 𝐓𝐡𝐞 𝐀𝐦𝐛𝐢𝐭𝐢𝐨𝐧 Infrastructure at this scale creates a platform. Becoming the partner customers think of first requires more than operational excellence. It requires presence. That requires showing up consistently in 37.1K views · 398 likes · 27 reposts · 9 replies Open on X →

𝐖𝐡𝐲 𝐖𝐞 𝐀𝐜𝐪𝐮𝐢𝐫𝐞𝐝 𝐌𝐢𝐫𝐚𝐧𝐭𝐢𝐬 - 𝐀𝐧𝐝 𝐖𝐡𝐚𝐭 𝐋𝐚𝐲𝐞𝐫 𝟑 𝐑𝐞𝐚𝐥𝐥𝐲 𝐌𝐞𝐚𝐧𝐬 Layers 1 and 2 are where the majority of value is created today. Layer 3 is how we further compound both into something harder and harder to displace over time. Mirantis has 22.1K views · 351 likes · 19 reposts · 6 replies Open on X →

𝐓𝐡𝐞 𝐍𝐕𝐈𝐃𝐈𝐀 𝐏𝐚𝐫𝐭𝐧𝐞𝐫𝐬𝐡𝐢𝐩 NVIDIA re-segmented its data center business on its most recent earnings call into two categories: Hyperscale, and ACIE - AI Cloud, Industrial, and Enterprise. ACIE revenue reached $37 billion in Q1 FY2027, growing 31% sequentially, 48.3K views · 405 likes · 27 reposts · 5 replies Open on X →

𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐀 𝐆𝐥𝐨𝐛𝐚𝐥 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦 A big part of our strategy has been building at scale, and building globally. Today IREN has secured power and active development pipelines across Texas, British Columbia, Oklahoma, Spain, Australia, and more. Five gigawatts of 43.3K views · 347 likes · 22 reposts · 4 replies Open on X →

𝐓𝐰𝐨 𝐊𝐢𝐧𝐝𝐬 𝐨𝐟 𝐈𝐧𝐟𝐫𝐚𝐬𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞. 𝐎𝐧𝐞 𝐂𝐨𝐦𝐩𝐨𝐮𝐧𝐝𝐬 𝐭𝐡𝐞 𝐎𝐭𝐡𝐞𝐫. When people talk about AI infrastructure, they tend to conflate two very different things. The distinction matters. Layer 1 is the physical foundation - power, land, substations, 30K views · 401 likes · 20 reposts · 4 replies Open on X →

𝐓𝐡𝐞 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐖𝐨𝐫𝐥𝐝 𝐈𝐬 𝐒𝐜𝐚𝐥𝐢𝐧𝐠 𝐅𝐚𝐬𝐭𝐞𝐫 𝐓𝐡𝐚𝐧 𝐓𝐡𝐞 𝐏𝐡𝐲𝐬𝐢𝐜𝐚𝐥 𝐖𝐨𝐫𝐥𝐝 AI demand grows exponentially. Infrastructure doesn't. Every few months we see another meaningful step change in model capability. Better reasoning. Better coding. 37.5K views · 469 likes · 31 reposts · 3 replies Open on X →