Microsoft signs $9.70 billion AI Cloud as a Service deal to purchase computing power from IREN
2025-11-03 11:47:18
Microsoft (MSFT. O) has signed an agreement worth about $9.70 billion to purchase artificial intelligence Cloud as a Service computing power from Australia's IREN, making it the Australian company's largest customer. The five-year agreement will give Microsoft access to the Texas-based Nvidia GB300 architecture accelerator system for AI workloads, according to a statement released by IREN on Monday. The agreement includes a 20% upfront payment. IREN also announced that it has agreed to purchase $5.80 billion worth of essential GPUs and related equipment from Dell (DELL. N). IREN CEO Daniel Roberts said by email that the agreement is expected to generate about $1.94 billion in annualized revenue when fully implemented, accounting for only about 10% of IREN's total computing capacity, leaving room for the infrastructure provider to sign more contracts.
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