Microsoft entered into a $9.7 billion, five-year contract with data center operator IREN on November 3, 2025. According to Reuters, the deal will secure Microsoft access to IRENs critical GPU infrastructure, including the latest NVIDIA GB300 chips. The capacity will be deployed at IRENs 750 MW site in Texas. Microsoft will make an upfront payment of about 20%. Concurrently, IREN signed a $5.8 billion deal with Dell for equipment procurement. This contract is one of the largest such deals, highlighting Microsofts effort to meet the skyrocketing demand for AI compute in its Azure cloud.
Microsoft and IREN Sign $9.7 Billion AI Cloud Contract
