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IREN Delivers First Tranche to Microsoft Under $9.7 Billion Agreement

Guavy AI Editorial Team Published August 17, 2026

Instruments

MSFT

IREN has taken a significant step towards fulfilling its $9.7 billion agreement with Microsoft, delivering the first of four planned 50-megawatt tranches to the tech giant.

The company's Horizon 1 project features direct-to-chip liquid cooling and marks an important milestone for IREN in the AI infrastructure sector.

NVIDIA has designated IREN's GB300-NVL72 systems as an 'Exemplar Cloud,' further validating the company's capabilities.

The delivery of Horizon 1 comes ahead of IREN's fiscal year end, when it will report results for the period ended June 30, 2026. Analysts will be closely watching the company's progress in converting contract backlog into actual revenue and margin figures.

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