Microsoft Inks $9.7 Billion GPU Cloud Contract with Australian Firm IREN

IREN Limited, a Sydney-based AI cloud and data-centre company, on Monday signed a five-year GPU cloud services contract with Microsoft Corporation valued at approximately $9.7 billion.

Under the agreement, IREN will provide Microsoft with access to NVIDIA GB300 GPUs. The deal includes a 20% prepayment, and IREN will source the GPUs and related equipment from Dell Technologies for about $5.8 billion.

The GPUs will be deployed in phases through 2026 at IREN’s 750-megawatt campus in Childress, Texas, alongside the rollout of new liquid-cooled data centres supporting 200 megawatts of IT load.

Daniel Roberts, co-founder and co-CEO of IREN, said the partnership strengthens the company’s role in the AI cloud market.

“This agreement not only validates IREN’s position as a trusted provider of AI Cloud services, but also opens access to a new customer segment among global hyperscalers,” Roberts said. 

IREN said it will fund the capital expenditures through a mix of existing cash, customer prepayments, operating cash flows, and additional financing.

The company said the deal marks progress in expanding large-scale GPU deployments across its 3-gigawatt secured power portfolio in North America.

Jonathan Tinter, president of business development and ventures at Microsoft, said the collaboration would support customers deploying AI workloads.

“Together with IREN, Microsoft is delivering cutting-edge AI infrastructure for our customers,” Tinter said. “IREN’s expertise in building and operating a fully integrated AI cloud, combined with their secured power capacity, makes them a strategic partner.”

IREN describes itself as an AI cloud service provider with a portfolio of grid-connected data centres in renewable-rich regions across the US and Canada.