IREN delivers first data center to Microsoft under $9.7bn contract

IREN Limited (NASDAQ: IREN) announced that it has delivered and received acceptance of Horizon 1 from Microsoft, and that it has achieved NVIDIA Exemplar Cloud status on the NVIDIA GB300 NVL72.

Horizon 1 is the first of four planned 50MW direct-to-chip liquid cooled AI cloud deployments scheduled for delivery to Microsoft at IREN's Childress, Texas campus in 2026. The deployments are part of a five-year, $9.7bn cloud services contract announced in November 2025.

NVIDIA's testing of the GB300 NVL72 deployment at Horizon 1 resulted in the Exemplar Cloud designation for IREN.

Co-Founder and Co-CEO Daniel Roberts said: "Delivering Horizon 1 demonstrates the strength of our vertically integrated model and our ability to execute complex AI infrastructure projects at speed and scale."

IREN said it continues to target expansion to 480MW of AI cloud capacity in 2026 and 1.2GW in 2027, with the remaining Horizon 2 through 4 deployments planned for later in the year.

You May Also Be Interested In

• S&P shares jump report of potential CapIQ spinout
• Putin, Xi, Trump may hold trilateral talks at APEC summit - Russia's Vesti
• Trump: striking Iranian targets near Strait of Hormuz