$Amazon.com(AMZN)$ Currently operates around 9GW of power capacity.
$Microsoft(MSFT)$ is around 5GW.
$Alphabet(GOOGL)$ is also near 5GW.
$IREN Ltd(IREN)$ currently has about 5.8GW of contracted power.
On a relative basis, that puts IREN in the same conversation as some of the largest hyperscale operators when it comes to power-backed AI infrastructure exposure.
The key takeaway is scale: in AI, power capacity is becoming a direct proxy for future compute growth.
As demand for data centers accelerates, contracted power becomes a strategic asset rather than just an operating input.
That's why $IREN Ltd(IREN)$ is getting attention in this cycle.
If you're not following with notifications on, you're likely seeing the move after it already happened.
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