Microsoft Inks $9.7 Billion Deal with IREN for Nvidia Chips
IREN deepens its strategic pivot into AI infrastructure with a landmark multi-year GPU cloud services deal alongside growing partnerships with major hyperscalers.
IREN Limited confirmed a multi-year GPU cloud services agreement with Microsoft valued at $9.7 billion, solidifying its expansion into AI infrastructure. The contract involves providing Nvidia-powered GPU capacity from its Texas campus via four new liquid-cooled data centers totaling 200 MW. It carries a 20% prepayment and is projected to generate $1.94 billion annually when fully deployed. IREN also committed to a $5.8 billion GPU and server purchase from Dell Technologies. Meanwhile, Cipher Mining agreed to a $5.5 billion, 15-year lease with Amazon Web Services for 300 MW AI workload capacity starting in 2026, plus a 95% stake in a 1-GW Texas site. These deals highlight a trend of Bitcoin miners diversifying into hyperscale AI services.
- Nvidia GB300: A high-performance GPU architecture by Nvidia designed for advanced AI and large-scale data processing workloads.
- AI Cloud Computing: Delivery of artificial intelligence services and computing resources over the internet, leveraging scalable cloud infrastructure.
- Liquid-Cooled Data Centers: Data center facilities that use liquid-based cooling systems to manage heat generated by high-performance computing equipment.