Microsoft has signed a contract worth 9.7 billion dollars with IREN company to have access, for five years, to Nvidia GB300 processors, aiming to boost artificial intelligence infrastructure.

Microsoft and IREN, the owner of a data center, have signed a cloud services contract worth nearly $9.7 billion, which will provide them access to Nvidia's GB300 processors for a period of five years. This collaboration comes at a time when the demand for artificial intelligence solutions exceeds the current capacity of major technology companies. Following the announcement of the contract, IREN's shares rose by approximately 18% in pre-market trading. Additionally, IREN has concluded an agreement with Dell Technologies for the purchase of chips and auxiliary equipment worth $5.8 billion. The company anticipates a gradual implementation of the GB300 processors by 2026 at its campus in Childress, Texas, and the contract with Microsoft includes a 20% upfront payment.