Iris Energy talks opportunities in generative AI market

Iris Energy Limited (NASDAQ:IREN) head of corporate finance and investor relations Lincoln Tan speaks with Proactive following the news the company has purchased 248 of NVIDIA’s latest-generation artificial intelligence (AI) H100 GPUs for approximately US$10 million. He says the initial purchase is expected to be delivered in the coming months and will allow the company to further assess the appropriateness of its next-generation data centers for servicing adjacent computing markets such as generative AI, as well as demonstrate capability to prospective customers. Tan says its core business remains Bitcoin mining, while generative AI represents an additional opportunity as its next-generation data centers will now target the generative AI market.

"Leveraging our next-generation data centers into generative AI is an exciting opportunity, particularly given current industry shortages in rack space and compute," co-CEO Daniel Roberts said in a statement.

"We believe demand for sustainable computing is unlikely to go away, and feel we are uniquely positioned to capture ongoing growth in the broader industry; whether that be ASICs for Bitcoin mining, or GPUs for generative AI and beyond," he added.

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