Microsoft has secured a significant $9.7 billion, five-year contract with Australia’s IREN to bolster its AI cloud services. The deal aims to provide Microsoft with access to compute infrastructure equipped with Nvidia’s GB300 GPUs, which will be gradually deployed through 2026 at IREN’s facility in Childress, Texas, designed to support 750 megawatts.
The collaboration also includes a separate $5.8 billion investment by IREN in GPUs and equipment from Dell, further strengthening the tech alliance. Microsoft’s recent deployment of Nvidia’s GB300 NVL72 systems for Azure underscores its commitment to optimizing reasoning models, agentic AI systems, and generative AI capabilities.
IREN, originally a bitcoin-mining entity, has pivoted towards AI workloads, leading to substantial growth. CEO Daniel Roberts anticipates the Microsoft deal to utilize only a fraction of IREN’s total capacity, projecting an estimated $1.94 billion in annualized revenue from the partnership.
Source: TechCrunch