IREN's Landmark Microsoft AI Cloud Deal Sets New Milestone for Shareholders

Saturday, Nov 8, 2025 12:51 pm ET1min read

Microsoft has signed a $9.7 billion agreement with IREN Limited for access to Nvidia GB300 GPUs, supported by a $5.8 billion procurement agreement with Dell Technologies. This highlights IREN's shift from cryptocurrency mining to AI cloud infrastructure and positions the company as a significant partner for global tech leaders. The deal solidifies IREN's largest short-term catalyst, AI infrastructure demand, but also intensifies the risk profile if capital expenditures outpace cash flows and financing flexibility.

IREN's Landmark Microsoft AI Cloud Deal Sets New Milestone for Shareholders

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