Mentioned:
IREN has just partnered up with one of the biggest technology companies in the entire world. And together they are preparing to pour billions of dollars into physical infrastructure for artificial intelligence.
What’s happening:
- IREN (NASDAQ: IREN) has landed a new multi year $9.7B USD deal with Microsoft (NASDAQ: MSFT) for GPU hosting
By the numbers:
- Microsoft will provide IREN with a 20% pre-payment as part of the new deal
Why it matters:
- This is the largest deal that IREN has ever done for cloud hosting for artificial intelligence workloads
Going deeper:
- IREN has publicly stated they plan to deploy GPUs in stages at their data centre campus located in Childress, Texas
- Dell Technologies and IREN have also struck a deal for more than $5B USD of Nvidia (NASDAQ: NVDA) GPUs and servers, racks and cooling systems as part of the new Microsoft deal
