Iren CEO says AI computing demand may never be sated

September 7, 2026 at 05:28 PM1 min

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Iren co-CEO Daniel Roberts said the supply of computing power is unlikely to ever catch up with AI demand, calling the AI data centre build-out fundamentally different from past investment cycles. Goldman Sachs expects the build-out to double US data centre capacity from 2024 levels by end-2027 and more than triple it by 2030 to about 125GW. Iren plans to spend up to $30bn on AI infrastructure over the coming year.

Key Facts

Iren co-CEO Daniel Roberts said the supply of computing power is unlikely to ever catch up with AI demand.
Goldman Sachs expects the AI data centre build-out to double US data centre capacity from 2024 levels by end-2027 and more than triple it by 2030, reaching about 125GW.
Iren plans to spend up to $30bn on AI infrastructure over the coming year.
Iren's market value has risen from about $60mn in late 2022 to roughly $17bn today.

AI Demand Outlook

Roberts said every unit of supply brought online feeds a multiple of that in additional demand, rather than solving existing demand. The growth of AI agents and faster processing times mean more consumption of computing resources, he explained. Roberts said the physical world is itself a check on oversupply, with builders already hitting social, political, and physical thresholds around power availability. Many communities across the US are mounting opposition to data centre construction, citing concerns about local energy and water supplies.

Iren's Transformation

Roberts co-founded Iren as Iris Energy with his brother in Sydney in 2018. The company has transformed from a Bitcoin miner that had defaulted on most of its mining-rig loans into one of Nvidia's important neocloud partners. Iren's customers include Microsoft, Perplexity, and Nvidia, which is also a key chip supplier to Iren. Iren's shares have swung from about $1 to a high of $76.