Dan and Will Roberts, the Australian brothers behind Nasdaq-listed Iren, have added more than $660 million to their on-paper wealth in the last month, thanks to booming investor interest in their timely pivot to selling artificial intelligence infrastructure.
The Sydney-headquartered company began life chasing a different tech boom, providing the tech-packed data centres needed to mine bitcoin. However, when the ChatGPT-led generative AI boom took off they began aggressively acquiring Nvidia chips and converted the data centres into so-called AI factories.
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Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
