Microsoft Inks $9.7B Deal with Australia’s IREN for AI Cloud Capacity

Why It Matters

The deal locks in massive GPU compute for Azure, bolstering Microsoft’s AI service competitiveness, while accelerating IREN’s shift from cryptocurrency mining to lucrative AI infrastructure provision.

Summary

Microsoft signed a five‑year, $9.7 billion contract with Australia’s IREN to secure AI cloud capacity built on Nvidia’s GB300 GPUs, to be deployed at IREN’s 750‑megawatt facility in Childress, Texas, through 2026. IREN is concurrently investing about $5.8 billion in GPUs and Dell equipment, and the Microsoft deal will consume roughly 10 % of its total capacity, generating an estimated $1.94 billion in annualized revenue. The agreement follows Microsoft’s recent launch of its first production GB300‑based Azure cluster and a parallel deal with Nscale for 200,000 GPUs in Europe and the U.S. It underscores Microsoft’s push to expand compute resources for high‑demand AI workloads.