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IREN shares jump over 10% after Microsoft accepts its first AI data center, part of a $9.7 billion cloud services deal
IREN Ltd. (NASDAQ:IREN) announced that Microsoft Corp. (NASDAQ:MSFT) formally approved Horizon 1, the first of four AI data centers IREN is building under their five-year, $9.7 billion cloud services agreement. Horizon 1 is a 50-megawatt deployment of Nvidia Corp. (NASDAQ:NVDA) GB300 systems, marking a significant milestone in IREN's pivot from Bitcoin mining towards AI infrastructure. The full contract is expected to generate approximately $1.94 billion in annualized revenue once all four facilities are operational.
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