Microsoft has signed a $9.7 billion AI cloud infrastructure deal with IREN, causing IREN shares to surge over 18% in pre-market trading to $71.50. The five-year contract allows Microsoft access to NVIDIA GB300 GPUs hosted at IREN’s campus in Texas, with deployment beginning in 2026. Microsoft prepaid about 20% of the total contract value. IREN plans to fund construction using prepayments, cash reserves, operating cash flow, and financing initiatives. This deal is one of the largest of its kind in the AI computing sector. U.S. Representative Cleo Fields’ investment in IREN has gained over 330% since September.

Read more at Quiver Quantitative: IREN Shares Surge 18% After $9.7 Billion AI Infrastructure Agreement With Microsoft