IREN CEO: Old Nvidia H100s Just Recontracted at Double Original Price
Yahoo Finance ·
During IREN’s Nov. 5 earnings call, co-CEO Daniel Roberts announced that older NVIDIA H100 GPUs were recently recontracted at twice their initial pricing. This unexpected surge in rental rates demonstrates the enduring value and extended useful life of NVIDIA’s hardware. IREN reported capital expenditures of $4.82 billion for the quarter ending September 2026, drawing criticism from short seller Jim Chanos regarding its heavy capital base relative to revenue. However, a recent deal featuring a customer prepaying roughly 90% of the GPU capital expenditure helps alleviate such concerns. As of Nov. 2, IREN traded at 3.1x forward sales, sitting below its three-year average of 5.2x.
AI 시장 분석
IREN Co-CEO Daniel Roberts stated in a recent earnings call that older NVIDIA H100 GPUs were re-contracted at double the price of previous agreements. This proves that the value of AI infrastructure assets lasts longer than expected, signaling a positive momentum for IREN's revenue growth and the broader NVIDIA ecosystem. Investors should note that the rise in hardware residual value partially offsets concerns over excessive capital expenditures.
상승 영향
- AI — Re-contracting prices for older NVIDIA H100 GPUs doubled compared to previous rates, proving the economic life and profitability of AI infrastructure assets are much stronger than expected.
하락 영향
- Data Centers — Market concerns persist regarding the efficiency of revenue generation relative to massive capital investments, such as IREN's quarterly capital expenditures surging to $4.82 billion.
DYAX 전담 분석
The doubling of rental rates for older H100 chips demonstrates that demand for AI computing resources continues to outpace supply. This provides IREN with a powerful revenue driver to support its previous outlook of reaching $2.81 billion in FY2027 revenue.
Future stock price direction will be determined by whether client upfront payment ratios increase and whether actual profitability is realized against massive capital expenditures ($4.82 billion). Key watchpoints are whether the contract ARR target, delayed from January to February, is achieved, and the pace of valuation normalization (current forward sales multiple of 3.1x).
AI가 생성한 분석으로 투자 자문이 아닙니다.
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