IREN Secures $9.7 Billion Microsoft AI Deal, Sparking Stock Surge and Market Debate

IREN stock share price today rises after $9.7 billion Microsoft GPU cloud services deal. Here's companies statements, stock price performance and deal's impact on AI and cloud infrastructure market

IREN stock share price today surged over 20% after the company announced a $9.7 billion cloud services contract with Microsoft. The five-year agreement will provide access to NVIDIA GB300 GPUs, expanding IREN's AI infrastructure operations and marking a major step beyond its bitcoin mining business. IREN stock share price today jumped after the company confirmed a long-term cloud services deal with Microsoft. The $9.7 billion agreement focuses on GPU cloud infrastructure using NVIDIA GB300 processors and will strengthen IREN's position in the AI data center market. Shares of IREN climbed more than 20% in pre-market trading on Monday after the company revealed a multi-year GPU cloud services contract with Microsoft worth around $9.7 billion. Under the five-year deal, IREN will provide Microsoft with access to NVIDIA GB300 GPUs. The agreement positions IREN among the key suppliers in the high-performance computing (HPC) and AI infrastructure market. Microsoft will prepay 20% of the total contract value, giving IREN a financial boost as it expands its data center operations. IREN said the GPUs will be sourced through a $5.8 billion agreement with Dell Technologies. These GPUs and related equipment will support the growing need for artificial intelligence and cloud capacity. The hardware will be installed at IREN's 750-megawatt Childress, Texas campus. The site is being developed into a liquid-cooled AI data center complex capable of supporting 200 megawatts of critical IT load. Deployment will take place in phases and is expected to continue through 2026. IREN said it will fund the capital expenditure through a mix of cash reserves, customer prepayments, operating cash flow, and new financing plans. IREN co-founder and co-CEO Daniel Roberts said the deal demonstrates the scalability of the company's vertically integrated AI cloud platform. He called the partnership a milestone for IREN's AI infrastructure strategy. Jonathan Tinter, Microsoft's president of business development and ventures, said the collaboration would deliver efficient AI infrastructure for Microsoft customers. He added that IREN's power capacity and vertically integrated operations were key reasons for the partnership. The agreement marks a shift in IREN's business model. Known as one of the top three public bitcoin mining companies by realized hashrate, IREN is now expanding into artificial intelligence and data center infrastructure. This move reflects a broader trend in the tech sector, where energy-intensive bitcoin mining companies are transitioning toward AI infrastructure, which offers long-term revenue stability and strong industry growth potential. As of Monday's pre-market session, IREN's shares were trading at $73, up from Friday's close of $60.75. The surge reflects investor optimism following the Microsoft contract announcement. The company's shares rose approximately 18% to 20% after the news, signaling confidence in IREN's shift toward AI cloud infrastructure and its strategic collaboration with Microsoft. The deal supports Microsoft's ongoing efforts to expand AI and cloud capacity amid rising demand across industries. Tech companies are facing challenges in meeting AI computing needs, and partnerships like this aim to fill that gap. IREN's involvement in providing high-performance GPU infrastructure adds another major supplier to the growing AI hardware ecosystem. Q1: What caused IREN stock share price today to rise? IREN stock share price today increased after the company announced a $9.7 billion GPU cloud services contract with Microsoft for NVIDIA GB300 processors and data center expansion. Q2: Where will IREN deploy the GPUs for Microsoft? IREN will install the GPUs at its 750-megawatt Childress, Texas campus, which is being developed into a liquid-cooled AI data center complex through 2026.

IREN CEO Teases Deals Even Bigger Than Microsoft - IREN (NASDAQ:IREN)

IREN Limited (NASDAQ:IREN) recently announced a mega-deal with Microsoft Corp. (NASDAQ:MSFT) and implied there could be more on the way. Co-CEO Daniel Roberts, on the company's Q1 earnings call Thursday evening, teased that there are more interested parties. IREN stock is moving. Watch the real-time price action here. On IREN's Q1 earnings call, a Roth Capital analyst asked whether the size of the Microsoft deal -- 200 megawatts -- was significant and whether they were interested in the rest of the Childress campus. Read Next -- Joby Stock Takes Off After Massive Q3 Revenue Beat: What To Know Roberts replied that he is bound to some stringent confidentiality terms, but that there is definitely interest. "There is appetite from a number of parties in discussing cloud and other structures well above the 200 megawatts that's been signed with Microsoft," Roberts shared. The co-CEO also provided some interesting color on the types of deals that may come in the future. He said that IREN would probably have a preference for other hyperscalers looking at co-location and infrastructure deals rather than cloud deals. "I think different hyperscalers have different preferences. [We] entertain them all, but given the nature of the deal we did with a 20% prepayment funding a third of capex and a 35% plus equity IRR, we're feeling pretty good about pursuing AI Cloud," Roberts added. IREN should feel "pretty good" about the Microsoft deal -- the five-year GPU cloud services contract carries a total contract value of approximately $9.7 billion, including a 20% prepayment. In fact, IREN should feel pretty good about its pivot to AI. The company blew Q1 estimates out of the water, reporting quarterly earnings of $1.08 per share, well above the consensus estimate of 14 cents. Read Next: IREN, Cipher Bag Billion-Dollar AI Deals: Which Company Is Next? Photo: Shutterstock IRENIREN Ltd$58.92-12.0%OverviewMSFTMicrosoft Corp$494.00-0.62%Market News and Data brought to you by Benzinga APIs

Why Iren Stock Surged Today | The Motley Fool

Shares of Iren (IREN +11.42%) jumped more than 11% on Monday after the rapidly expanding artificial intelligence (AI) infrastructure provider announced a $9.7 billion cloud contract with Microsoft. Iren will supply Microsoft with access to Nvidia's cutting-edge GB300 graphic processing units (GPUs) as part of a five-year cloud computing agreement. Iren intends to purchase the highly sought-after AI accelerators and related equipment from Dell Technologies for roughly $5.8 billion. Iren plans to deploy the technology at its AI-optimized, renewable energy-powered facility in Childress, Texas, in the coming year. "Iren's expertise in building and operating a fully integrated AI cloud -- from data centers to GPU stack -- combined with their secured power capacity makes them a strategic partner," Microsoft executive Jonathan Tinter said in a press release. Demand for AI computing is growing faster than even multitrillion-dollar companies like Microsoft can provide. The deal should thus alleviate some of the tech titan's capacity shortages as it strives to meet the AI needs of its cloud computing customers. Yet Microsoft isn't the only tech giant that's struggling to build enough data centers and related infrastructure to satisfy its AI requirements. So, this might not be the last blockbuster deal Iren strikes. "This agreement not only validates Iren's position as a trusted provider of AI Cloud services, but also opens access to a new customer segment among global hyperscalers," co-CEO Daniel Roberts said.

Jim Chanos Warns IREN Taking 'All The Risk' In $9.7 Billion Microsoft AI Pact: 'Deal Will Decrease EPS' - IREN (NASDAQ:IREN)

Famed short-seller Jim Chanos has poured cold water on the market's excitement for IREN Ltd.'s (NASDAQ:IREN) new $9.7 billion AI cloud deal with Microsoft Corp. (NASDAQ:MSFT), warning that the deal is a high-risk financing arrangement that will likely harm shareholder value. Check out IREN's stock price here. Chanos Pours Cold Water On IREN-MSFT AI Deal Hype In a detailed analysis posted on the social media platform X, Chanos argued that despite IREN's stock skyrocketing on the news, the deal's underlying financials are "below $IREN's cost-of-capital." Chanos, who posted a ROIC/IRR analysis of the deal, claimed that even with "favorable assumptions," the project's return on invested capital of 7.7% and unlevered internal rate of return of 10.2% are too low. He dismissed market enthusiasm, stating, "The 20% IRR figures people are throwing around are ridiculous. This is a financing deal, w/IREN taking all the risk." The critique comes just days after IREN announced the five-year agreement to supply Microsoft with NVIDIA GB300 GPU cloud services, a move that sent its stock to new highs. See Also: Jim Cramer Says Forget CoreWeave As He Reverses On IREN, Nebius: Past Doubts 'Don't Matter,' Amid 'That Much Demand' Chanos Argues IREN's MSFT Deal Will Decrease EPS Chanos's "sanity check" also highlighted what he sees as unfavorable terms for IREN. He calculated that the 77,000 GPUs in the deal are "being rented-out at an implied $2.88 per hour... well below where other deals have happened." His analysis concluded with a stark warning for investors celebrating the revenue milestone. "Finally, it's hard not to conclude that this deal will actually DECREASE EPS at $IREN going forward," Chanos wrote, adding that the company faces "increased balance sheet risk and/or equity dilution" as a result. The deal, one of the largest in the AI infrastructure sector, involves IREN purchasing $5.8 billion in equipment from Dell Technologies, to be funded through cash, customer prepayments, and other financing. Benzinga reached out to IREN for comment on Chanos's analysis but did not receive an immediate response. IREN Skyrockets Nearly 540% In 2025 Despite ending 1.65% lower at $66.63 apiece and falling further by 1.46% after-hours, IREN has scaled 537.00% year-to-date returns. It has advanced 645.30% over the year. It maintains a stronger price trend over the long, short, and medium terms, with a poor value ranking. Additional performance details, as per Benzinga's Edge Stock Rankings, are available here. While the S&P 500, Dow Jones, and Nasdaq 100 closed lower on Tuesday, the futures were mixed on Wednesday. Read Next: IREN, Nebius Emerge As Top 'AI Utility' Picks As Expert Says Next Wave Of AI Trade Is 'Industrial' Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Photo courtesy: Shutterstock IRENIREN Ltd$65.66-3.08%OverviewMSFTMicrosoft Corp$512.41-0.89%Market News and Data brought to you by Benzinga APIs

IREN's 500% Stock Boom Hands Paul Tudor Jones An Eight-Figure Windfall - IREN (NASDAQ:IREN)

Bitcoin (CRYPTO: BTC) mining stocks don't usually mint Wall Street legends a fresh fortune -- but IREN Ltd (NASDAQ:IREN) just did. The miner-turned-AI-infrastructure play has handed billionaire hedge fund manager Paul Tudor Jones a roughly $84 million windfall. IREN stock has surged over 500% this year. Track IREN's stock surge here. From Mining Bitcoin to Mining Gold Jones' Tudor Investment Corp quietly built a 1.47 million-share stake in IREN during the second quarter at an average price of about $10.05 a share. With the stock now hovering near $67, his position has ballooned by over 560% in value. What started as a small, speculative bet worth just $14.8 million, has swelled into an eight-figure payday -- all in under six months. The rally kicked into overdrive after IREN signed a $9.7 billion, five-year AI cloud services deal with Microsoft Corp (NASDAQ:MSFT). The IREN-Microsoft deal is one of the biggest AI infrastructure partnerships ever inked by a former crypto miner. The contract includes a 20% upfront deposit and will see IREN deploy NVIDIA Corp's (NASDAQ:NVDA) GB300 GPUs across its massive 750 MW Texas campus, cementing its pivot from digital assets to data centers. Read Also: IREN, Cipher Bag Billion-Dollar AI Deals: Which Company Is Next? A Pivot That Paid Off JPMorgan analyst Reginald Smith calls the deal a "validation" of IREN's early move into AI cloud services. Smith noted that IREN's ability to secure such a contract "surprised skeptics" and marked a milestone in the company's evolution beyond Bitcoin. All Eyes On Earnings IREN is set to report its first-quarter results on Thursday. Investors will be watching for: details on deal phasing, GPU deployment timelines and funding plans for its $5.8 billion partnership with Dell Technologies Inc (NYSE:DELL). IREN's reinvention is turning heads -- and turning profits. What began as a risky pivot from mining to AI, may now be the blueprint for survival in the post-crypto era. IREN stock has already proven to be one of his smartest trades of 2025 for Jones. Read Next: Cipher CEO Spills 'Secret Sauce' Powering Its AI Pivot Photo: Tigarto via Shutterstock IRENIREN Ltd$65.788.29%Overview$BTCBitcoin - United States dollar$107004.62-3.20%DELLDell Technologies Inc$162.030.01%MSFTMicrosoft Corp$516.75-0.20%NVDANVIDIA Corp$209.353.39%Market News and Data brought to you by Benzinga APIs

IREN shares soar on $9.7 billion cloud deal with Microsoft By Investing.com

Investing.com -- Shares of IREN Limited, an AI cloud service provider, are trading nearly 20% higher in pre-market trading on Monday after the company announced a major cloud services deal with Microsoft. The multi-year contract, valued at approximately $9.7 billion over five years, will provide Microsoft with access to NVIDIA GB300 GPUs. The agreement includes a 20% prepayment from Microsoft. In conjunction with this deal, IREN has entered into a separate agreement with Dell Technologies to purchase the GPUs and related equipment for approximately $5.8 billion. IREN plans to deploy these GPUs in phases throughout 2026 at its 750MW facility in Childress, Texas. The company will also develop new liquid-cooled data centers supporting 200MW of critical IT load across four phases. To fund these capital expenditures, IREN intends to use existing cash, customer prepayments, operating cash flows, and additional financing initiatives. "We're proud to announce this milestone partnership with Microsoft, highlighting the strength and scalability of our vertically integrated AI Cloud platform," said Daniel Roberts, Co-Founder and Co-CEO of IREN. IREN offers GPU clusters for AI training and inference through data centers located in renewable energy regions across the United States and Canada.

Why Is IREN Stock Skyrocketing Monday? - IREN (NASDAQ:IREN), Microsoft (NASDAQ:MSFT), Dell Technologies (NYSE:DELL)

IREN Limited (NASDAQ:IREN) shares jumped in premarket trading on Monday after the company announced a multi-year, $9.7 billion GPU cloud services contract with Microsoft Corp. (NASDAQ:MSFT), one of the largest deals yet in the AI infrastructure sector. Under the five-year agreement, IREN will supply Microsoft with access to NVIDIA Corp. (NASDAQ:NVDA) GB300 GPUs, including a 20% prepayment. IREN has also partnered with Dell Technologies Inc. (NYSE:DELL) to purchase the GPUs and related equipment for about $5.8 billion. Also Read: Analyst Says Bitcoin Mining Revenue And EBITDA Could Rise The GPUs will be deployed in phases through 2026 at IREN's 750-megawatt campus in Childress, Texas. The site will feature new liquid-cooled data centers supporting up to 200 megawatts of critical IT load. IREN said it will fund the expansion through cash reserves, customer prepayments, operational cash flows, and additional financing. Co-Founder and Co-CEO Daniel Robert called the deal a milestone that highlights IREN's scalability as an AI cloud provider and expands its reach among global hyperscalers. Jonathan Tinter, Microsoft's president of business development and ventures, said the partnership aligns Microsoft's AI infrastructure goals with IREN's expertise in integrated data center operations and secured power capacity. Financial and Strategic Growth The momentum follows IREN's $674 million purchase of advanced NVIDIA GPUs, which significantly boosts its AI cloud capacity. The company now aims to generate $500 million in annualized revenue from its AI business by early 2026 and recently raised $1 billion through an oversubscribed convertible notes offering, underscoring investor confidence. Price Action: IREN shares were trading higher by 23.26% to $74.88 premarket at last check Monday. Microsoft rose 0.36% while Dell gained 4.28%. Read Next: Bitcoin Drops To $107,000 As Ethereum, XRP, Dogecoin Plummet Over 5% Photo by T. Schneider via Shutterstock DELLDell Technologies Inc$168.173.80%OverviewIRENIREN Ltd$72.0018.5%MSFTMicrosoft Corp$518.740.18%AIQGlobal X Artificial Intelligence & Technology ETF$53.721.21%AMDAdvanced Micro Devices Inc$259.301.24%NVDANVIDIA Corp$205.931.70%SMCISuper Micro Computer Inc$52.591.21%SMHVanEck Semiconductor ETF$366.721.02%Market News and Data brought to you by Benzinga APIs