IREN's $9.7B Agreement with Microsoft Draws Doubts as Insiders Sell Shares, Experts Caution
- IREN secured a $9.7B GPU cloud contract with Microsoft, including 20% upfront prepayment, to deploy NVIDIA GB300s over five years. - The deal involves $5.8B in GPU procurement from Dell, with Texas data center deployment starting in 2026 using liquid-cooled infrastructure. - IREN's stock surged 22% pre-market, but faces analyst skepticism over valuation risks and insider sales of 2M shares by co-CEOs. - Institutional investors showed mixed positions, while analysts warned about liquidity strains from pre
IREN Limited (NASDAQ: IREN) has landed a significant multi-year GPU cloud services agreement valued at $9.7 billion with
Funding for the project will come from a combination of existing cash reserves, customer prepayments, operational income, and additional financing, as noted by
Following the news, IREN’s stock price jumped nearly 22% in pre-market trading, reaching $74.15, according to Nasdaq. This comes after a turbulent year for the company, which shifted its focus from
Despite the optimism surrounding the contract, insider share sales have drawn attention. Co-CEOs William and Daniel Roberts each sold one million shares in September, earning $33.1 million, according to The Globe and Mail. Institutional investors have taken different approaches: FMR LLC acquired 8.6 million shares in Q2 2025, while D. E. Shaw & Co. exited its position entirely, as reported by Quiver Quant. The stock’s recent trajectory has been compared to that of Core Scientific, whose investors are wary of a proposed $9 billion merger with CoreWeave, according to
IREN’s move into AI infrastructure has made it a significant contender in the rapidly growing cloud computing sector. The company’s 3GW secured power assets in North America and collaborations with industry leaders like Microsoft highlight its competitive edge, as noted by Investing.com. However, analysts warn that heavy reliance on prepayments and financing could put pressure on liquidity, especially if project rollouts are delayed, Quiver Quant cautions.
As competition in AI accelerates, IREN’s success in delivering on this $9.7 billion contract—and maintaining trust with both investors and partners—will be essential for its future growth.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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