secwatch.observer — SEC 8-K summary
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Issuer:     IREN Ltd (IREN)
CIK:        0001878848
Form:       8-K
Filed at:   2025-11-03T23:59:59+00:00
Accession:  0001140361-25-040072
Event type: other_material
Sentiment:  positive
Materiality: 0.95
Item codes: 1.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1878848/000114036125040072/0001140361-25-040072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1878848/000114036125040072/ef20058139_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-040072

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