IREN - Iris Energy talks opportunities in generative AI market
(NewsDirect)
Iris Energy Limited(NASDAQ:IREN) head of corporate finance and investor relations LincolnTan speaks with Proactive following the news the company has purchased248 of NVIDIA’s latest-generation artificial intelligence (AI) H100GPUs for approximately US$10 million. He says the initial purchase isexpected to be delivered in the coming months and will allow thecompany to further assess the appropriateness of its next-generationdata centers for servicing adjacent computing markets such asgenerative AI, as well as demonstrate capability to prospectivecustomers. Tan says its core business remains Bitcoin mining, whilegenerative AI represents an additional opportunity as itsnext-generation data centers will now target the generative AImarket.
"Leveraging our next-generation data centers intogenerative AI is an exciting opportunity, particularly given currentindustry shortages in rack space and compute," co-CEO DanielRoberts said in a statement.
"We believe demand for sustainable computing isunlikely to go away, and feel we are uniquely positioned to captureongoing growth in the broader industry; whether that be ASICs forBitcoin mining, or GPUs for generative AI and beyond," he added.
ContactDetails
Proactive Investors
JonathanJackson
+61 413 713 744
jonathan@proactiveinvestors.com
Copyright (c) 2023 TheNewswire - All rights reserved.