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IREN announced the delivery of the first of 4 AI cloud facilities, with a capacity of 50 megawatts, to Microsoft under a 5-year contract worth $9.7 billion.
The company also received the NVIDIA Exemplar Cloud designation, in a move that strengthens its position as a provider of high-performance cloud computing infrastructure.
$IREN 's stock rose 3.3% on Monday, as interest in demand for AI-related computing capacity increased.
The key message: The AI race depends not only on more powerful models, but also on owning the infrastructure, energy, and computing power needed to run them at scale.
$MSFT