IREN Ltd

Позитивное:

• Невероятный успех в привлечении долгового финансирования без инвестиционного рейтинга. Цитата: «For non-investment grade deployments, the rest of the AI ecosystem, we just closed $2.8 billion of equipment financing. That includes $2.4 billion at a 9% fixed rate for Mackenzie...» транскрипт
• Цены на мощности стремительно растут на фоне дефицита инфраструктуры. Цитата: «Three-year contract pricing is up about 125% since November. Five-year is up about 70%. Recent three-year contracts are pricing in excess of $20 million per megawatt of IT load...» транскрипт

Негативное:

• Беспрецедентная долговая и инвестиционная нагрузка на ближайший год. Цитата: «For FY27, we are guiding CapEx of approximately $25 billion to $30 billion.» транскрипт
• Резкий рост операционных расходов (SG&A) для обслуживания растущей платформы. Цитата: «We expect first quarter cash SG&A to increase approximately $40 million-$50 million sequentially as we continue to invest for growth across sales and marketing, R&D, development, sites, and cloud operations...» транскрипт