Yahoo Finance·2025-11-05 18:37Core Insights - The AI revolution has significantly benefited chip designers and cloud computing service providers, with a new focus emerging on infrastructure [1] - Neocloud services, which allow businesses to rent GPU access through cloud infrastructure, have gained traction, with Iren (NASDAQ: IREN) emerging as a notable player [2] Company Overview - Iren initially focused on cryptocurrency, particularly Bitcoin mining, and built extensive data centers with specialized hardware [3] - The company has pivoted to a neocloud model, offering GPU rental services to businesses, allowing them to avoid the complexities of building their own infrastructure [4] Market Activity - Microsoft has invested tens of billions into AI infrastructure, primarily enhancing its Azure cloud platform and forming strategic partnerships [6] - Recently, Microsoft signed a $17.4 billion deal with Nebius for neocloud services and has now entered a $9.7 billion contract with Iren for Nvidia GB300 GPUs, effective from 2026 to 2031 [7][8]