IREN’s AI Pivot Deepens With Microsoft Deal And GPU Build-Out

February 7, 2026 - 20:22

IREN has announced a massive financial and strategic push to cement its position in the artificial intelligence infrastructure sector. The company has secured a formidable $3.6 billion in GPU financing, backed by a consortium of leading global banks, to power its ambitious build-out.

This capital is aligned with a significant $1.9 billion customer prepayment, which is directly tied to a landmark $9.7 billion AI contract with technology giant Microsoft. The deal provides a substantial foundation of contracted demand as IREN accelerates its pivot from its origins in Bitcoin mining toward becoming a major player in AI cloud services.

To support this transformation, the company has outlined aggressive expansion plans. IREN intends to scale its data center power capacity by 1.6 gigawatts at its site in Oklahoma. Furthermore, it is targeting an installation of 140,000 high-performance GPUs by the year 2026. This infrastructure is critical for training and running the complex large language models and AI applications that are increasingly in demand.

The announcements mark a decisive step in IREN's strategic repositioning, leveraging large-scale financial partnerships and a cornerstone agreement with Microsoft to build out one of the industry's most significant AI-focused data center platforms.