Citing The Tokenist, IREN Limited (NASDAQ: IREN) shares surged 22.09% in pre-market trading on November 3, 2025, following the announcement of a $9.7 billion multi-year GPU cloud services contract with Microsoft. The deal involves IREN deploying NVIDIA GB300 GPUs over five years, with a 20% prepayment from Microsoft. IREN will purchase the GPUs and related equipment from Dell Technologies for $5.8 billion and plans to finance the project using existing cash, prepayments, and new financing.
IREN Shares Surge 22% After $9.7 Billion Microsoft Cloud Deal
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