Microsoft has signed a $9.7 billion cloud services agreement with Australian data center operator IREN, granting it access to Nvidia GB300 processors over the next five years, Reuters reports.
The deal is part of Microsoft’s push to expand its AI and data center infrastructure amid surging demand that exceeds Big Tech’s existing cloud capacity.
Read also: Nvidia Expands: Massive Investments in the U.S. and Europe to Control the Future of AI
Following the announcement, IREN’s shares jumped about 18% in pre-market trading. The company also signed a $5.8 billion agreement with Dell Technologies to procure chips and related hardware.
The Nvidia GB300 processors are expected to be deployed gradually through 2026 at IREN’s 750-megawatt campus in Childress, Texas, with Microsoft making an upfront payment of 20% as part of the deal.
The partnership strengthens Microsoft’s position in the global race for AI computing power, as tech giants compete for access to Nvidia’s most advanced chips — the cornerstone of next-generation artificial intelligence systems.
Photo: Quartz
