Microsoft signed a $9.7 billion AI agreement with IREN.

Strategic Agreement Between Microsoft and IREN

Microsoft has signed a significant agreement with IREN valued at a total of 9.7 billion dollars. This step stands out as a notable development in the field of cloud technologies.

IREN plans to transition from Bitcoin mining to artificial intelligence cloud capacity by purchasing 5.8 billion dollars worth of graphics processing units (GPUs). As a result of the agreement, the company's annual revenue expectation has been set at 1.9 billion dollars.

This strategic agreement highlights the great importance of the mining sector's hardware for artificial intelligence applications. Microsoft aims to overcome the GPU shortage to meet Azure's artificial intelligence demands.