IREN Ltd. Breaks Records: Rising with New Agreements!

IREN Ltd. (NASDAQ:IREN) reached a new peak with an incredible performance on Monday. The company signed new agreements worth $15.5 billion with technology giants Microsoft Corp. and Dell Technologies.

During intraday trading, the stock reached a new annual high of $75.73 and closed the day up 11.52% at $67.75.

In a statement made on Monday, it was reported that IREN Ltd. signed a $9.7 billion five-year GPU cloud services contract with Microsoft. Under this agreement, access to Nvidia Corp.’s GB300 GPU will be provided.

According to the terms of the related agreement, IREN Ltd. will gradually deliver the GPUs from its 750 MW capacity campus in Texas. Microsoft will pay 20% of the total contract amount upfront.

At the same time, IREN Ltd. made an agreement with Dell for equipment purchases worth approximately $5.8 billion. In September, the company successfully distributed 11,000 Nvidia Blackwell GPUs to its existing AI partners and aims to be fully operational by the end of the year. Additionally, the remaining 12,000 GPUs are planned to be delivered by the end of the first quarter of next year and are expected to generate $500 million in annual recurring revenue (ARR) from AI alone.

The company is preparing to announce its third-quarter earnings results after the market closes on Thursday, November 6th.

As an investor, while acknowledging the potential of IREN, we believe that some AI stocks have promised greater returns and limited downside risk.