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IREN shares rise after Microsoft deployment completes, Nvidia Exemplar status
The cloud provider said its first Microsoft deployment under a five-year, $9.7 billion contract is complete, and it now has Nvidia Exemplar Cloud status tied to its GB300 NVL72 work.
Iren Limited (IREN) ended the week about 9% higher after the company said its first cloud deployment for Microsoft (MSFT) has been completed and it received Nvidia (NVDA) Exemplar Cloud status.
According to Yahoo Finance, the first deployment, Horizon 1, is part of four planned deployments to Microsoft under a five-year, $9.7 billion contract signed last year in November. Nvidia validated Iren's GB300 NVL72 deployment and granted the Exemplar Cloud designation.
Yahoo Finance also said Iren joins other cloud providers, including CoreWeave, Nebius, AWS, Azure, and Oracle Cloud Infrastructure, in earning the Nvidia recognition. The article further describes Iren as shifting from cryptocurrency mining into AI infrastructure and now supplying Nvidia GPUs to hyperscalers.
The piece values Iren at a $15.6 billion market cap and says the stock is up 19% year to date. It adds that Iren has a power and data center footprint with 810 MW operational, 2,100 MW under construction, and 1,600 MW in development across six locations in North America.