---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-040072"
form_type: "8-K"
ticker: "IREN"
cik: "0001878848"
company_name: "IREN Ltd"
filed_at: "2025-11-03T23:59:59+00:00"
generated_at: "2026-05-17T00:56:55.282991+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# IREN signs $9.7B AI cloud contract with Microsoft; $5.8B GPU purchase from Dell

## Summary
- Total contract value ~$9.7 billion with Microsoft over five-year average term; 20% prepayment per tranche.
- IREN to deploy NVIDIA GB300 GPUs across four Childress data centers (Horizon 1–4) totaling 200MW IT load, phased through 2026.
- Dell Purchase Agreement for ~$5.8 billion for GPU supply; IREN guarantees subsidiary's obligations.
- Contract validates IREN's AI cloud platform and opens access to hyperscaler customer segment.
- IREN expects to fund ~$5.8B capex via cash, prepayments, operating cashflows, and additional financing.

## SEC filing metadata
- accession: 0001140361-25-040072
- form_type: 8-K
- ticker: IREN
- cik: 0001878848
- company_name: IREN Ltd
- filed_at: 2025-11-03T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1878848/000114036125040072/0001140361-25-040072-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1878848/000114036125040072/ef20058139_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-040072
- JSON: https://secwatch.observer/filing/0001140361-25-040072.json
- Plain text: https://secwatch.observer/filing/0001140361-25-040072.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.