Microsoft Signs $9.7 Billion Deal With Data Center Firm IREN (2)

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 five-year agreement gives Microsoft access to Nvidia Corp. systems in Texas built for AI workloads and includes a 20% prepayment, IREN said in a statement on Monday. Sydney-based IREN has agreed to buy the necessary advanced chips known as graphics processing units and related equipment for $5.8 billion from Dell Technologies Inc.

Microsoft has inked several multibillion-dollar deals with data center operators such as IREN and CoreWeave Inc. over the past year in an ...