IREN Stock Jumps as Microsoft and Nvidia Back Its AI Cloud Push

IREN shares surge after Microsoft accepts first Texas AI cloud installation

08/13/2026 12:55

Summary

IREN also secured NVIDIA Exemplar Cloud status as it targets 480MW of AI cloud capacity in 2026 and 1.2GW in 2027

IREN IREN shares climbed about 5% on Thursday after the company confirmed that its first artificial intelligence cloud installation for Microsoft MSFT had been delivered and accepted.

The project, called Horizon 1, represents the first of four planned 50-megawatt deployments at IREN's Childress, Texas, site. IREN is scheduled to deliver the systems to Microsoft during 2026 under a five-year cloud services agreement valued at $9.7 billion.

IREN also secured NVIDIA (NVDA) Exemplar Cloud status after NVIDIA evaluated its GB300 NVL72 system at Horizon 1. The designation follows testing of the platform for AI computing workloads.

IREN is targeting 480 megawatts of total AI cloud capacity this year and expects that figure to reach 1.2 gigawatts in 2027. The company's expansion comes as demand for computing infrastructure designed for artificial intelligence applications continues to increase.

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