The agreement aims to boost IREN’s annualized revenue to $4.4 billion by 2027 through expanded AI infrastructure.
IREN shares climbed 4% in pre-market trading after securing a $1.6 billion deal with Dell Technologies for air-cooled Blackwell systems. The purchase supports a five-year, $3.4 billion AI cloud contract, enhancing the company’s infrastructure for artificial intelligence services.
The systems will be deployed at IREN’s Texas data centers, with commissioning targeted for early 2027. The deal is expected to lift annualized run-rate revenue from $3.7 billion to $4.4 billion, reinforcing IREN’s growth in the AI cloud sector.
The agreement underscores IREN’s push to meet rising demand for AI compute capacity, positioning it as a key player in cloud infrastructure.