IREN Delivers First Horizon AI Deployment Under $9.7B Microsoft Cloud Contract

IREN completes initial 50MW liquid cooling phase for Microsoft, marking start of four-part rollout. Total deal includes Nvidia GB300 GPUs, targeting 200MW capacity.

Woofun AI reports that IREN has executed the first of four "Horizon" AI infrastructure deployments under a five-year, $9.7 billion cloud service agreement with Microsoft. The initial phase, Horizon 1, consists of a 50-megawatt direct-chip liquid cooling installation at Microsoft's Childress, Texas facility and holds Nvidia's "Exemplar Cloud" certification for workload performance. The remaining three phases are scheduled for delivery later this year, bringing total IT capacity to 200 megawatts equipped with Nvidia GB300 GPUs. IREN originally signed the contract in November 2025 and targets 480 megawatts of AI cloud capacity by 2026, expanding to 1.2 gigawatts by 2027. Shares closed up 2.6% to $45.22 on Monday, with year-to-date gains remaining below 6%.