IREN has signed a multi-year deal with Microsoft to use its cloud-based graphics processing services.

Microsoft Corp. has signed a roughly $9.7 billion deal to buy artificial intelligence computing capacity from IREN Ltd., becoming the Australian company’s largest customer.

The total contract value of is about $9.7 billion, which includes a 20% prepayment, IREN said Monday. At the same time, IREN made a separate agreement with Dell Technologies to pu

IREN (IREN) secured a significant AI cloud services contract with Microsoft valued at ~$9.7 billion, spanning over five years. The contract involves providing Microsoft (MSFT) access to NVIDIA GB300 GPUs over a five-year term,