IREN shares jumps on $1.6 billion Dell deal to expand AI cloud business

Markets Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email IREN shares jumps on $1.6 billion Dell deal to expand AI cloud business The Dell agreement will support IREN’s expanding AI cloud business and boost projected annualized revenue to $4.4 billion by 2027. By James Van Straten | Edited by Jamie Crawley May 27, 2026, 9:47 a.m. 1 min read Make preferred on (Hashage) What to know : The company signed a $1.6bn purchase agreement with Dell for air-cooled Blackwell systems to support its long-term AI cloud services contract. The systems will be deployed at IREN’s Childress, Texas facilities, strengthening its ability to meet growing demand for AI compute capacity. Upon commissioning, the AI cloud contract is expected to increase IREN’s annualized run-rate revenue from $3.7bn to $4.4bn. IREN shares rose 4% in pre-market trading after the company entered a $1.6 billion purchase agreement with Dell Technologies for air-cooled Blackwell systems , a major step in scaling its artificial intelligence infrastructure, the company said on Wednesday. The new systems will support IREN’s previously announced five-year, $3.4 billion managed services AI cloud contract and are expected to be deployed across the company’s existing data centers in Childress, Texas. Commissioning is targeted for early 2027. Once operational, the AI cloud contract is projected to increase IREN’s annualized run-rate revenue from $3.7 billion to $4.4 billion, reinforcing the company’s position as a growing player in AI infrastructure and cloud services. Co-founder Daniel Roberts said speed and execution remain critical in the rapidly expanding AI market. “Securing capacity and accelerating commissioning are our top priorities in a market where time-to-compute is everything,” Roberts said. “Our relationship with Dell ensures access to hardware at the scale and speed the market demands.” The agreement highlights increasing demand for AI compute capacity as hyperscalers, enterprises, and developers race to secure infrastructure for next-generation AI workloads. Read More: IREN co-founder says AI’s biggest bottleneck is infrastructure, not chips Artificial Intelligence More For You Bitcoin drops to 13th largest asset as capital flees to AI and precious metals By James Van Straten | Edited by Jamie Crawley 36 minutes ago Bitcoin’s weak 2026 performance has coincided with sharp gains in metals and semiconductor giants, raising concerns that the cryptocurrency could continue losing ground. What to know : Bitcoin is down 11% year to date and nearly 30% over the past year, while metals and semiconductor stocks have posted major gains. Gold surged to a record $5,600 per ounce in January before easing back to around $4,486, while silver climbed as high as $120 per ounce and now... Read full story Latest Crypto News Bitcoin drops to 13th largest asset as capital flees to AI and precious metals 36 minutes ago DeFi isn't safe anymore because AI is becoming 'superhuman' at hacking, security chief warns 57 minutes ago Whale alert: Someone dumped $1.29 billion of BlackRock's bitcoin ETF in a dark pool trade 1 hour ago Crypto PACs spend $9 million in Texas and score wins in both parties 3 hours ago Bitcoin vs gold: BTC's three-month uptrend has snapped 4 hours ago XRP steadies near $1.32 as failed breakout keeps focus on narrowing trading range 4 hours ago Top Stories Traders watch bitcoin 'golden cross' as BTC slides to near $75,000, ZEC dives 9% 5 hours ago Coinbase’s Base launches AI tool for ChatGPT to manage crypto wallets and DeFi apps 17 hours ago XRPL could close its biggest DeFi gap if new AMM amendment passes 18 hours ago Strategy taps cash reserve to retire $1.5 billion in convertible debt 21 hours ago Bitmine made its largest ETH purchase this year despite Tom Lee's slowdown suggestion 20 hours ago Ondo Finance founder Nathan Allman dies unexpectedly May 26, 2026