MarketsShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailIREN Shares Surge Following $1.6 Billion Dell Agreement to Enhance AI Cloud Services
The Dell agreement will bolster IREN's expanding AI cloud business and is projected to elevate 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 readMake preferred on
Key Points:
- IREN has finalized a $1.6 billion procurement agreement with Dell for air-cooled Blackwell systems to enhance its long-term AI cloud services.
- The new systems will be installed in IREN's facilities located in Childress, Texas, improving its capacity to meet the rising demand for AI computing power.
- Once operational, this AI cloud initiative is expected to raise IREN's annualized revenue from $3.7 billion to $4.4 billion.
In pre-market trading, IREN's stock increased by 4% after announcing the $1.6 billion purchase agreement with Dell Technologies for Blackwell systems, marking a significant advancement in its AI infrastructure, according to the company on Wednesday.
The new systems will back IREN's previously disclosed five-year, $3.4 billion managed services AI cloud contract, with deployments planned for its existing data centers in Childress, Texas. The commissioning is anticipated to occur in early 2027.
Upon becoming operational, the AI cloud project is expected to boost IREN's annualized revenue from $3.7 billion to $4.4 billion, solidifying the company's role in AI infrastructure and cloud services.
Co-founder Daniel Roberts emphasized the importance of speed and execution in the fast-growing AI sector.
“Securing capacity and accelerating commissioning are our top priorities in a market where time-to-compute is everything,” stated Roberts. “Our partnership with Dell guarantees access to hardware at the scale and speed that the market demands.”
This agreement underscores the escalating need for AI computing resources as hyperscalers, enterprises, and developers strive to establish infrastructure for advanced AI workloads.
Read More: IREN co-founder says AI’s biggest bottleneck is infrastructure, not chips
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