IREN Delivers Horizon 1 to Microsoft Under $9.70 Billion Contract

IREN Limited has announced that it has delivered Horizon 1, the first of four 50MW liquid-cooled AI cloud deployments at its Childress, Texas campus, to Microsoft under a five-year contract worth $9.70 billion.

The successful delivery of Horizon 1 to Microsoft supports IREN's investment narrative around AI cloud growth and its pivot from Bitcoin mining to contracted AI cloud capacity.

IREN secured NVIDIA Exemplar Cloud status on its GB300 NVL72 deployment, validating its ability to run large-scale, demanding AI workloads for blue-chip clients.

The $3.65 billion investment-grade GPU financing facility is crucial in bridging the gap between IREN's rapid AI cloud capacity ramp and its current operating cash flows.