Overview
- IREN will provide access to Nvidia GB300 GPUs over five years under a contract valued at about $9.7 billion that includes a 20% prepayment.
- IREN agreed to purchase GPUs and related equipment from Dell for approximately $5.8 billion, with the Microsoft prepayment helping fund the acquisition.
- The systems are scheduled for phased deployment through 2026 at IREN’s 750MW Childress, Texas campus alongside new liquid-cooled data centers delivering roughly 200MW of critical IT capacity.
- IREN plans to finance the buildout through existing cash, customer prepayments, operating cash flow and additional funding initiatives.
- The contract carries termination risk if delivery timelines are missed, and the announcement lifted IREN shares more than 20% premarket as Dell rose about 5%.