Microsoft Corp. has signed an approximately $9.7 billion deal to purchase AI cloud capacity from IREN Ltd., becoming the Australian company’s largest customer. The five-year agreement will provide Microsoft access to Nvidia Corp. accelerator systems in Texas built using the GB300 architecture for AI workloads and includes a 20% prepayment, IREN said in a statement on Monday. Sydney-based IREN also said it’s agreed to purchase the requisite GPUs and related equipment for $5.8 billion from Dell Technologies Inc. Once the deal is fully implemented, it’s expected to generate approximately $1.94 billion in annualized revenue, IREN Chief Executive Officer Daniel Roberts said via email. It will use about 10% of IREN’s total capacity, leaving room for the infrastructure provider to sign more contracts and generate additional revenue.

Full report : Microsoft signs a five-year, ~$9.7B deal to buy AI compute capacity from Sydney-based IREN, giving Microsoft access to Nvidia’s GB300 in IREN’s Texas facility.