Shares of IREN Ltd. (NASDAQ: IREN) jumped sharply on Monday after the company announced a landmark five-year, $9.7 billion contract with Microsoft Corp. to deliver advanced AI cloud infrastructure powered by NVIDIA GB300 GPUs at its massive Texas campus. The deal marks a major leap for the Sydney-based data-infrastructure company as it pivots from its roots in high-performance computing and digital infrastructure toward becoming a core provider for hyperscale AI workloads.
Under the agreement, IREN will supply Microsoft with large-scale AI compute capacity built around NVIDIA's latest GPUs, deployed at its 750 MW Childress, Texas campus, which includes about 200 MW of new liquid-cooled data-center capacity, according to Reuters. Microsoft will make a 20% upfront payment, helping IREN fund the build-out and reduce financing risk, AP News reported.
