IREN Ltd plans to significantly expand its AI cloud infrastructure by deploying 23,000 new GPUs, as announced by co-CEO Dan Roberts. This strategic move aims to capitalize on the growing demand for cloud-based GPU services, with the company targeting $500 million in annual revenue by 2026. Transitioning from bitcoin mining, IREN is focusing on enhancing its cloud capabilities through partnerships with NVIDIA and AMD, ensuring a robust supply of GPUs. This expansion is expected to benefit stocks of GPU manufacturers like NVIDIA and AMD, as demand for these components increases.