IREN to Buy Nvidia Blackwell Systems for $1.6B, Boost ARR by $700M
NVDA•IREN agreed to acquire Nvidia’s air-cooled Blackwell systems from Dell for $1.6 billion to support its five-year $3.4 billion AI cloud contract, covering GPUs, servers, storage, networking and integration services. Commissioning is scheduled for early 2027 and the deal is set to lift IREN’s annualized run-rate revenue from $3.7 billion to $4.4 billion.
1. Agreement Details
IREN finalized a $1.6 billion purchase of Nvidia’s air-cooled Blackwell systems from Dell, including GPUs, servers, storage, networking components, integration services and ancillary equipment. The acquisition secures capacity to fulfill IREN’s five-year $3.4 billion AI cloud contract with Nvidia.
2. Revenue and Funding Impact
The hardware procurement is projected to raise IREN’s annualized run-rate revenue from $3.7 billion to $4.4 billion once commissioning is complete. IREN plans to obtain dedicated GPU financing to fund the phased deployment, mirroring strategies used in previous rollouts.
3. Commissioning Schedule
Installation of the Blackwell systems at IREN’s Childress, Texas, data center campus will begin commissioning in early 2027. IREN views time-to-compute as a primary constraint in the AI sector and aims to address it through faster capacity deployment.
4. Nvidia Investment
Nvidia committed up to $2.1 billion to support the deployment of up to 5 gigawatts of AI infrastructure at IREN, reinforcing a strategic partnership to expand next-generation GPU capacity.
