Overview
- Microsoft prepaid roughly 20% of the contract value, providing about $1.9 billion upfront to de‑risk delivery.
- IREN entered an approximately $5.8 billion procurement with Dell for Nvidia GB300 systems and supporting infrastructure.
- The deployment will roll out at IREN’s 750 MW Childress, Texas campus with liquid‑cooled data centers designed for about 200 MW of IT load.
- IREN shares hit record levels as analysts lifted targets, including Cantor to $142 and Bernstein to $125, with estimates pointing to roughly $2 billion in annual AI cloud revenue by 2027.
- The contract includes delivery protections with a reported walk‑away clause, and it uses only a small portion of IREN’s total power capacity, leaving room for additional deals.