Microsoft has entered into an approximately $9.7 billion cloud services contract with artificial intelligence cloud service provider IREN that will give it access to some of Nvidia’s chips.

Iren will supply Microsoft with access to Nvidia 's cutting-edge GB300 graphic processing units ( GPUs) as part of a five-year cloud computing agreement. Iren intends to purchase the highly sought-after AI accelerators and related equipment from Dell Technologies for roughly $5.8 billion.

AI infrastructure providers are partnering with tech giants and cloud leaders as AI projects secure the power and hardware they need.

IREN Limited stock surged after a $9.7B, 5-year Microsoft deal. Click for why analysts are bullish and how AI demand could boost IREN stock further.

Data centre owner and operator IREN said on Monday it has signed a nearly US$9.7 billion cloud services contract with Microsoft to provide the tech giant with access to Nvidia’s GB300 processors over a five-year period.