Microsoft Taps IREN For $9.7B AI Cloud Services Partnership

IREN added that it has also agreed with Dell Technologies to purchase the GPUs and ancillary equipment for about $5.8 billion.

IREN (IREN) said on Monday that it has signed a multi-year Graphics Processing Unit (GPU) cloud services contract valued at nearly $9.7 billion with Microsoft (MSFT).

The company said that, as per the deal terms, IREN will provide Microsoft with access to Nvidia (NVDA) GB300 GPUs over a five-year term, with the contract also including a 20% prepayment.

IREN added that it has also agreed with Dell Technologies to purchase the GPUs and ancillary equipment for about $5.8 billion. The company noted that the GPUs are expected to be deployed in phases through 2026 at IREN’s 750MW Childress, Texas campus.

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