IREN has signed a $1.6 billion purchase agreement with Dell for air-cooled Blackwell systems to be deployed at its data centers in Childress, Texas. This acquisition is part of IREN’s broader strategy to enhance its AI cloud operations, which includes a previously announced five-year, $3.4 billion managed services AI cloud contract, with commissioning set for early 2027. The company anticipates that this deal will increase its annualized run-rate revenue from $3.7 billion to $4.4 billion, although that revenue target is not fully contracted. Dell Technologies has been known for its collaborations with AI cloud providers, particularly in scaling GPU deployments in Texas data centers.

Dell: Dell Technologies is a major provider of enterprise IT infrastructure, including servers and AI-optimized systems, with a strong emphasis on supporting generative AI deployments. The company recently showcased advancements in AI infrastructure at its Dell Technologies World 2026 event. This agreement positions Dell as the key supplier of air-cooled Blackwell systems to power IREN’s data center expansions and AI cloud initiatives.
IREN: IREN Limited is a vertically integrated AI cloud provider focused on developing large-scale data center infrastructure for high-performance computing workloads. In recent months, the company has expanded its AI cloud offerings through strategic hardware procurements and managed services agreements. This purchase agreement directly supports IREN’s existing multi-year AI cloud contract by securing the necessary air-cooled systems for deployment at its Childress, Texas facilities.

Revenue Growth Focus: IREN has been pursuing expansions in its AI cloud operations to increase annualized run-rate revenue through new hardware and contract support.
Infrastructure Partnership: Dell Technologies has been actively collaborating with AI cloud providers on large-scale GPU deployments in Texas data centers.