IREN Signs $9.7 Billion Agreement with Microsoft to Deploy AI Cloud Infrastructure 

IREN Limited (NASDAQ: IREN) announced a multi-year agreement with Microsoft valued at approximately $9.7 billion to deliver GPU cloud infrastructure powered by NVIDIA GB300 GPUs. 

The partnership represents one of the largest AI infrastructure deployments announced this year and reflects the growing demand for high-performance compute. 

Under the agreement, IREN will deliver large scale GPU clusters accommodated within IREN’s liquid cooled data centers under construction at its 750 MW campus located in Childress, Texas. The GPUs will be deployed in 4 phases through 2026 (Horizon 1-4) and will collectively provide 200MW of critical IT load. The five-year contract includes a 20 percent prepayment and is expected to contribute roughly $1.94 billion in annualized run rate revenue once fully commissioned.  

Daniel Roberts, Co-Founder & Co-CEO of IREN, commented, “We’re proud to announce this milestone partnership with Microsoft, highlighting the strength and scalability of our vertically integrated AI Cloud platform. This agreement not only validates IREN’s position as a trusted provider of AI Cloud services, but also opens access to a new customer segment among global hyperscalers. It marks another major step forward for IREN as we continue to expand large-scale GPU deployments across our 3GW secured power portfolio in North America, reinforcing our position as a leading AI Cloud Service Provider.” 

Jonathan Tinter, President of Business Development and Ventures at Microsoft commented “Together with IREN, Microsoft is delivering cutting-edge AI infrastructure for our customers. IREN’s expertise in building and operating a fully integrated AI cloud — from data centers to GPU stack — combined with their secured power capacity makes them a strategic partner. This collaboration unlocks new growth opportunities for both companies and the customers we serve.”

High performance compute on a new scale 

The Microsoft agreement showcases the accelerating need for high density compute to power next-generation AI models and workloads. IREN’s ability to meet such needs is materially improved by its vertically integrated model, reflected by control and ownership of land, grid connections, data centers and GPU hardware.  

In conjunction with the announcement of the Microsoft partnership, IREN also entered into an agreement with Dell Technologies to purchase the GPUs and ancillary equipment for approximately $5.8 billion1. A focused commitment to large scale AI infrastructure

The partnership with Microsoft marks a significant milestone for IREN as it supports one of the largest AI infrastructure build outs announced this year. The deployment will provide Microsoft with high performance GPU capacity built on a foundation that prioritizes efficiency, reliability, and long-term scalability. 

About IREN 

IREN (NASDAQ: IREN)  is a leading AI Cloud Service Provider, delivering large-scale GPU clusters for AI training and inference. IREN’s vertically integrated platform is underpinned by its expansive portfolio of grid-connected land and data centers in renewable-rich regions across the U.S. and Canada.