Data centre operator IREN announced on Monday that it has signed a five-year, $9.7 billion cloud services agreement with Microsoft, giving the technology giant access to Nvidia's GB300 processors. The... ...

智通财经APP获悉，微软公司(MSFT.US)已与澳大利亚企业IREN Ltd.(IREN.US)签署一项价值约97亿美 元的协议，将向后者采购人工智能(AI)云算力，成为这家澳大利亚公司的最大客户。受此消息刺激， IREN盘前暴涨，截至发稿，该股盘前涨超21%。 根据IREN周一发布的声明，这份为期五年的协议将为微软提供位于得克萨斯州、基于英伟达 (NVDA.US)GB300架构的加速器系统，用于处理AI工作负载。协议还包括20%的预付款。总部位于悉尼 的IREN同时宣布，已同意以58亿美元从戴尔科技(DELL.US)采购所需的GPU及相关设备。 IREN首席执行官丹尼尔·罗伯茨(Daniel Roberts)在邮件中表示，协议全面实施后，预计将带来约19.4亿 美元的年化收入，仅占IREN总产能的10%，这为这家基础设施提供商预留了签署更多合同、创造额外 收入的空间。 他指出："我们一直将大型超大规模云服务商视为天然合作伙伴。随着他们的算力需求和我们的AI云能 力同步增长，我们与多家头部企业的谈判已明显提速。" 包括IREN在内的许多新云公司最初以比特币挖矿业务起家，目前已将计算集群扩展至AI领域。受AI ...

Business Deal - Microsoft signs a deal to purchase $9.7 billion in AI cloud capacity from IREN [1] - The deal represents approximately 10% of IREN's total capacity [1] Company Impact - This is a huge morning for IREN bulls [1] - IREN will provide compute in Texas for Microsoft [1]

Core Insights - Microsoft Corporation (NASDAQ:MSFT) is recognized as a leading AI and non-tech stock, with expectations of achieving mid-30% growth in its Azure segment [1][2] - The company reported a significant 40% year-over-year growth in Azure, surpassing analyst expectations, although its capital expenditures (CapEx) reached approximately $35 billion, exceeding forecasts [2] Financial Performance - Microsoft has invested heavily in capital expenditures, establishing over 2 gigawatts of data center capacity in the past year, resulting in a gross property, plant, and equipment value of nearly $370 billion [4] - The gross cash flow increased from $60 billion in 2020 to over $140 billion in 2025, indicating a strong return on capital in the high 20s percentage range [4] Market Position - Microsoft is positioned at the intersection of software and AI, contributing to its consistent growth and value addition in the market [2][3] - Despite the strong performance, some analysts believe that other AI stocks may offer higher returns with lower risk compared to Microsoft [4]

Core Insights - The global asset bull market narrative since 2025 has reached a critical juncture in October [1] - Despite significant year-to-date gains in silver (64.73%) and gold (52.53%), October revealed market fragility with declines in major indices [2] - The divergence in performance between US and Asian markets highlights a stark contrast, with US indices reaching new highs while Asian markets, particularly Hong Kong and Chinese stocks, faced significant pullbacks [3][4] Market Performance - US stock markets showed strong performance in October, with the Nasdaq index rising 4.70% to close at 23,724.96 points, and the S&P 500 index increasing by 2.27% to 6,840.20 points [3][6] - In contrast, the Hang Seng Index fell by 3.53% to 25,906.65 points, and the Nasdaq China Golden Dragon Index dropped by 4.19% [3][6] - The A-share market also exhibited mixed results, with the Shanghai Composite Index up 1.85% and the Shenzhen Component Index down 1.10% [3][6] Precious Metals - The precious metals market experienced volatility, with silver peaking at $54.142 per ounce before retreating to $48.85, while gold reached $4,355.685 before falling to $4,018.52 [7][8] - Year-to-date performance for gold and silver remains strong, with gold up 52.53% and silver up 68.44% [8] Energy and Currency - The US dollar index strengthened in October, rising from 97.82 to 99.73, which exerted pressure on dollar-denominated assets [9] - Oil prices faced downward pressure, with WTI crude oil falling 2.23% to $60.98 per barrel and Brent crude down 1.91% to $64.77 per barrel [9] Market Dynamics - The October pullback in Chinese stocks is attributed to multiple pressures, including increased IPO activity and ongoing US-China trade tensions, leading to reduced risk appetite [10] - The divergence in performance is also linked to the relative strength of the US economy and the liquidity environment, which continues to support US equities [11] Future Outlook - The medium-term bullish outlook for precious metals remains intact, supported by central bank gold purchases and geopolitical uncertainties [12] - The performance of US stocks is heavily reliant on large technology companies, which have shown strong earnings growth and market dominance [12] - Concerns about potential valuation bubbles in the tech sector are emerging, particularly regarding AI investments, which could impact future market stability [12][13]

Core Insights - The five-year agreement will enhance Microsoft's access to Nvidia chips, indicating a strategic partnership aimed at bolstering Microsoft's technological capabilities in AI and cloud computing [1] Group 1 - The agreement spans five years, suggesting a long-term commitment between Microsoft and Nvidia [1] - Increased access to Nvidia chips is expected to support Microsoft's growth in AI and cloud services [1]

Microsoft (MSFT) today said it had signed a $9.7 billion purchase agreement for AI cloud capacity from bitcoin miner-turned-neocloud company IREN (IREN). The move marked one of the biggest commercial validations yet for the upcoming neocloud sector — referring to a group of data center firms that evolved from bitcoin mining into artificial intelligence infrastructure. Under the five-year contract, Microsoft will gain access to Nvidia GB300-based AI systems hosted in Texas. IREN, formerly known for its l ...

内容摘要 美股策略月报 大盘成长风格领先，科技板块是主线 2025-11-3 艾德研究部 高级策略分析师 刘宗武 (HKSFC CE No.: BSJ488) liuzongwu@eddid.com.hk 请参阅正文后面的免责声明及披露 1. 主要事件：10月美股市场按时间先后顺序主要经历了联邦政府关门、特朗普总统突然在社交媒体宣布对中国加征100%关税、美国两家区域银行披露信贷风险、 中美贸易代表在吉隆坡谈判进展顺利、鲍威尔主席记者会表示12月不确定降息、中美两国元首韩国会晤，对美股影响最大的是中美贸易政策的变化。 2. 12月降息存变数：鲍威尔强调12月降息并非确定性事件，期货市场定价年内最后一次议息会议降息概率下降至63%。鲍威尔的鹰派发言虽然改变了降息的节 奏，但不改变降息的方向，美联储依然处于降息周期当中。 3. 美国25/26年经济增长获上调：IMF将美国2025年实际GDP增长上调至2.0%，2026年上调至2.1%。9月美联储议息会议将2025年实际GDP增长上调至1.6%， 2026年上调至1.8%，皆指向美国经济将实现'软着陆'。 4. 投资者信心上升：贸易政策不确性指数趋势下降，2025 ...

格隆汇11月3日｜IREN美股盘前直线拉升涨超14%，消息面上，公司与微软签署97亿美元协议，将在德 克萨斯州提供云计算服务。 ...

每经AI快讯，11月3日，IREN美股盘前直线拉升涨超14%，消息面上，公司与微软签署97亿美元协议， 将在德克萨斯州提供云计算服务。 ...