IREN Shares Rise After $1.6 Billion Dell Deal to Expand AI Cloud Business

IREN shares moved higher after the company signed a $1.6 billion purchase agreement with Dell Technologies to expand its artificial intelligence cloud business. The deal includes air-cooled Blackwell systems that will support IREN’s growing AI infrastructure strategy and long-term cloud services plans.

The new systems are expected to support IREN’s previously announced five year AI cloud managed services agreement valued at $3.4 billion. Following the announcement, the company’s shares gained around 4% in pre-market trading as investors reacted positively to the expansion move.

Texas Data Centers to Power AI Growth

IREN said the systems will be deployed at its existing facilities in Childress, Texas, with commissioning expected in early 2027. Once fully operational, the agreement is projected to lift the company’s annualized run-rate revenue from $3.7 billion to $4.4 billion.

Growing Demand for AI Computing Capacity

IREN co-founder Daniel Roberts said fast deployment remains essential as demand for AI computing continues to rise.

Why the Dell Deal Matters for IREN

The partnership gives IREN access to hardware at scale, helping the company meet rising demand from enterprises and developers seeking advanced AI cloud infrastructure.