Mark Zuckerberg confirmed on Meta’s Q2 2026 earnings call that the company has received significant inbound interest in its excess compute capacity, describing a market under serious strain. “We have quite a number of offers at a meaningful premium over what we paid for the compute,” Zuckerberg said. He first floated the idea of selling surplus data center capacity at Meta’s May 2026 annual shareholder meeting, calling it “definitely on the table.” This supply crunch highlights a structural advantage for Iren (NASDAQ: IREN), which can deploy infrastructure faster than rival neoclouds. Projects entering development now are unlikely to bring data centers fully online before the end of the decade. IREN is scaling from just 3 megawatts of capacity a year ago to an expected 480 megawatts by the end of 2026 and a projected 1.2 gigawatts by 2027. The company raised its year-end AI cloud computing annual revenue run rate outlook to more than $4 billion, up from a prior target of $3.7 billion. Its phased build-out strategy may reduce shareholder dilution, and it is constructing a power and real estate moat. Demand continues to outstrip planned capacity additions, suggesting favorable pricing power and contract visibility into the latter half of the decade.