Overview
- The infrastructure will be delivered from IREN’s 750‑megawatt Childress, Texas campus in phases through 2026 using Nvidia GB300 systems.
- Microsoft will prepay 20% under the agreement to lock in dedicated GPU resources for Azure AI workloads.
- IREN entered a roughly $5.8 billion procurement with Dell for GPUs and related equipment to support the buildout.
- The contract allows Microsoft to exit if delivery milestones are missed, according to deal summaries.
- IREN said the pact uses about 10% of its capacity and implies roughly $1.94 billion in annualized revenue, as shares hit a record after rising as much as 24.7%.