IREN Shares Soar on Milestone AI Data Center Delivery

IREN Limited's shares surged in morning trade after the company announced it had delivered its first 50MW AI data center, Horizon 1, to Microsoft. This milestone comes alongside IREN achieving Nvidia's 'Exemplar Cloud' status.

The achievement is part of a five-year, $9.7 billion cloud services agreement between IREN and Microsoft. The remaining three Microsoft Horizon deployments are expected to be delivered later this year at IREN's Childress, Texas campus.

IREN co-founder and co-CEO Daniel Roberts said the company looks forward to 'building on this momentum with Microsoft' as the remaining Horizon deployments come online.