IREN Limited has signed a five-year AI infrastructure cloud services contract with NVIDIA. The contract is valued at approximately $3.4 billion. Under the agreement, IREN will provide NVIDIA with access to managed GPU cloud services for its internal AI and research workloads.
Overview
The agreement includes orchestration and cluster management software in collaboration with Mirantis. The services will be deployed within approximately 60MW of IREN's existing data centers at its Childress, Texas campus. IREN will utilize air-cooled Blackwell platform systems to service the agreement.
What it does
The partnership demonstrates IREN's ability to deliver fully managed cloud solutions to a broad and growing customer base. IREN is a vertically integrated AI Cloud provider, delivering large-scale data centers and GPU clusters for AI training and inference. The company's platform is underpinned by its expansive portfolio of grid-connected land and power in renewable-rich regions across North America, Europe, and APAC.
Tradeoffs
The contract marks the first hyperscale AI infrastructure play by a publicly traded crypto-mining operator. IREN will repurpose its 1.2 GW of stranded power into liquid-cooled HGX H200 clusters, effectively turning the company into a de facto cloud provider for latency-sensitive inference workloads without building a single new data center.
In conclusion, the partnership between IREN and NVIDIA highlights the growing demand for AI infrastructure and cloud services. As a vertically integrated AI Cloud provider, IREN is well-positioned to deliver fully managed cloud solutions to its customers. The company's ability to repurpose its existing infrastructure and partner with leading technology companies like NVIDIA and Mirantis will be key to its success in the AI Cloud market.