IREN has signed a $9.7 billion cloud services contract with Microsoft for access to Nvidia’s GB300 processors over five years. This move aims to boost AI and data center infrastructure due to high demand. IREN’s shares surged 18% in premarket trading, with Dell Technologies supplying equipment for $5.8 billion. The processors will be phased in by 2026 at their Texas campus, with a 20% prepayment from Microsoft.

Read more at Yahoo Finance: Microsoft signs $9.7 billion contract with IREN for Nvidia chips