IREN to Buy Blackwell Systems From Dell for About $1.6 Billion
The purchase will add GPU capacity for IREN’s cloud AI contracts and lift annualized run-rate revenue to $4.4 billion, the company said.
- Data center operator IREN agreed on Tuesday to purchase Nvidia's air-cooled Blackwell systems from Dell Technologies for about $1.6 billion, aiming to expand capacity amid soaring AI demand.
- Surging AI demand has prompted IREN to expand infrastructure capacity through multiple high-value contracts, including a five-year $3.4 billion AI cloud agreement with Dell and Microsoft's $9.7 billion November deal.
- IREN Co-CEO Daniel Roberts stated, "securing capacity and accelerating commissioning are top priorities," with systems deploying at Childress, Texas by early 2027 and covering GPUs, servers, storage, and integration services.
- Upon commissioning, the Blackwell systems are projected to boost IREN's annualized run-rate revenue to $4.4 billion from $3.7 billion, strengthening its position as AI infrastructure demand intensifies among hyperscalers and enterprises.
- Nvidia's $2.1 billion investment commitment announced earlier this month supports IREN's plan to deploy up to 5 gigawatts of infrastructure across Childress and British Columbia sites, though execution depends on timely GPU delivery.
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Why IREN Stock Popped Today
Key PointsDell is supplying IREN with the AI equipment it needs for its Childress, Texas campus.IREN is working to alleviate a major constraint in the AI boom: time-to-compute.10 stocks we like better than Iren › Shares of IREN Limited (NASDAQ: IREN) climbed on Wednesday after the artificial intelligence (AI) data center developer struck a deal with Dell Technologies (NYSE: DELL). Image source: Getty Images.Will AI create the world's first trill…
IREN Ltd Signs $1.6 Billion Dell Deal For Blackwell Systems, Targets $4.4 Billion In Annual Revenue
IREN Ltd. (NASDAQ: IREN), an Australian data center operator, has entered into an agreement with Dell Technologies Inc. (NYSE: DELL) to purchase Nvidia’s air-cooled Blackwell systems for approximately $1.6 billion. The acquisition is intended to service IREN’s previously announced five-year, $3.4 billion managed services AI cloud contract. The purchase agreement covers GPUs, servers, storage, networking, ancillary equipment, integration services…
IREN Targets $4.4bn in ARR with Blackwell Deployment at Childress - IREN (NASDAQ:IREN)
NEW YORK, May 26, 2026 (GLOBE NEWSWIRE) -- IREN Limited (NASDAQ:IREN) ("IREN") today announced it has entered into a purchase agreement with Dell for air-cooled Blackwell systems to service its previously announced five-year, $3.4bn managed services AI cloud contract. The transaction is part of IREN's ongoing investment to accelerate time-to-compute, today the defining constraint in AI. The Blackwell systems will be deployed across existing data…
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