IREN delays Microsoft AI deliveries, plans $15 billion spending push

IREN said Thursday it delayed some Microsoft infrastructure deliveries after a Microsoft-requested network redesign — with no financial penalties — and pushed its more-than-$4 billion annualized revenue run-rate target to January, possibly February. The neocloud also outlined about $15 billion in capital spending for the rest of its fiscal year, including $6 billion in target financing subject to market conditions. Bloomberg reported Microsoft is tightening oversight of neocloud providers including IREN, Nebius and Nscale; The Information has tied Childress, Texas delays to Microsoft’s roughly $5 billion recent capex shortfall.