IREN signs Microsoft to $9.7 billion cloud compute deal, stock extends 21%

IREN Limited (NASDAQ: IREN) signed a five-year agreement with Microsoft for GPU cloud computing services valued at around $9.7 billion. Microsoft will receive access to NVIDIA GB300 GPUs managed by IREN, with the contract including a 20 percent prepayment. The agreement provides phased deployment of GPU capacity throughout 2026 at IREN’s Childress, Texas campus, which has 750 megawatts of total capacity. Four new liquid-cooled data centers, named Horizon 1 through Horizon 4, will support 200 megawatts o ...