Mark Zuckerberg Just Explained Why Iren Has an Edge Over Other Neoclouds
Compute is getting more valuable, and Iren's cautious approach toward dealmaking may reward it in the long run.
Overview
Great art isn't always realized in its time. Data-center company Iren (NASDAQ: IREN) looks like the ugly duckling as Nebius (NASDAQ: NBIS), Hut 8 (NASDAQ: HUT), and Terawulf (NASDAQ: WULF) sign lucrative, long-term deals with hyperscalers. Iren has made some deals, but none of them have been as exciting as the deal with Microsoft (NASDAQ: MSFT) way back in November.
Meta Platforms (NASDAQ: META) Chief Executive Officer Mark Zuckerberg recently validated Iren's strategy when he discussed compute after reporting second-quarter results. It shows that Iren has been right all along to avoid making big deals, instead taking a cautious approach with its future capacity.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.