IREN shares jumps on $1.6 billion Dell deal to expand AI cloud business

📄Full Article· Automatically extracted by trafilatura2453 words

IREN shares jumps on $1.6 billion Dell deal to expand AI cloud business The Dell agreement will support IREN’s expanding AI cloud business and boost projected annualized revenue to $4.4 billion by 2027. What to know: - The company signed a $1.6bn purchase agreement with Dell for air-cooled Blackwell systems to support its long-term AI cloud services contract. - The systems will be deployed at IREN’s Childress, Texas facilities, strengthening its ability to meet growing demand for AI compute capacity. - Upon commissioning, the AI cloud contract is expected to increase IREN’s annualized run-rate revenue from $3.7bn to $4.4bn. IREN shares rose 4% in pre-market trading after the company entered a $1.6 billion purchase agreement with Dell Technologies for air-cooled Blackwell systems, a major step in scaling its artificial intelligence infrastructure, the company said on Wednesday. The new systems will support IREN’s previously announced five-year, $3.4 billion managed services AI cloud contract and are expected to be deployed across the company’s existing data centers in Childress, Texas. Commissioning is targeted for early 2027. Once operational, the AI cloud contract is projected to increase IREN’s annualized run-rate revenue from $3.7 billion to $4.4 billion, reinforcing the company’s position as a growing player in AI infrastructure and cloud services. Co-founder Daniel Roberts said speed and execution remain critical in the rapidly expanding AI market. “Securing capacity and accelerating commissioning are our top priorities in a market where time-to-compute is everything,” Roberts said. “Our relationship with Dell ensures access to hardware at the scale and speed the market demands.” The agreement highlights increasing demand for AI compute capacity as hyperscalers, enterprises, and developers race to secure infrastructure for next-generation AI workloads. Read More: IREN co-founder says AI’s biggest bottleneck is infrastructure, not chips More For You Bitcoin’s weak 2026 performance has coincided with sharp gains in metals and semiconductor giants, raising concerns that the cryptocurrency could continue losing ground. What to know: - Bitcoin is down 11% year to date and nearly 30% over the past year, while metals and semiconductor stocks have posted major gains. - Gold surged to a record $5,600 per ounce in January before easing back to around $4,486, while silver climbed as high as $120 per ounce and now...

Data Status✓ Full text extractedRead Original (CoinDesk)

🔍Historical Similar Events· Keyword + Asset Matching6 items

2026-05-15

IREN closes $3 billion convertible notes deal amid AI infrastructure expansion

Similarity 180%關鍵字 deal/billion/iren

2026-05-08

Bitcoin Miner IREN Secures $3.4 Billion Nvidia AI Deal, With $2.1 Billion Share Option

Similarity 180%關鍵字 deal/billion/iren

2026-04-27

Bernstein sees IREN pivoting from Bitcoin mining to $3.7B AI cloud business

Similarity 150%關鍵字 cloud/business/iren

2026-05-23