Microsoft Secures 200MW AI Data Center Lease in $9.7B Deal as SpaceX Flirts with Valuation Lead
MSFT•Microsoft agreed to a 200MW lease at IREN’s Childress data center under a five-year AI infrastructure contract valued at $9.7 billion, enhancing Azure’s GPU capacity. Separately, SpaceX briefly overtook Microsoft as the world’s fifth-most-valuable stock before slipping over 3% in premarket trading following Fed comments.
1. Microsoft Signs AI Data Center Lease
Microsoft has contracted a 200MW lease at IREN’s Childress data center as part of a landmark five-year AI infrastructure agreement valued at $9.7 billion tied to Nvidia’s GB300 GPU capacity. The financing structure enables IREN to recoup its $8.8 billion investment and deliver unlevered internal rates of return above 20%, while Azure expands its high-performance compute footprint.
2. SpaceX Briefly Overtakes Microsoft in Market Ranking
SpaceX climbed past Microsoft to become the world’s fifth-most-valuable stock before a 3% drop in premarket trading extended pressure from the Federal Reserve’s decision to maintain interest rates. Vanda Research data shows retail investors bought roughly the same amount of SpaceX shares over three sessions as they did in all other ‘Magnificent Seven’ names combined, underscoring valuation swings in leading tech equities.
