IREN Lands $9.7B Microsoft Deal, Stock Surges 21%

The Sydney-based company, which has pivoted to AI infrastructure, saw shares climb to nearly $73 before settling around $67.30.

IREN stock surged nearly 21% Monday morning after the former Bitcoin miner signed a $9.7 billion

with Microsoft for AI cloud computing services. The Sydney-based company, which has pivoted to AI infrastructure, saw shares climb to nearly $73 before settling around $67.30.

The deal grants Microsoft access to Nvidia's GB300 GPUs as the tech giant advances its artificial intelligence initiatives. Microsoft stock also rose following the announcement. IREN co-founder and CEO Daniel Roberts stated the agreement validates the company's position as a trusted AI Cloud services provider and opens access to new customer segments among global hyperscalers.

Cipher Mining

Monday an approximately $5.5 billion, 15-year lease agreement with Amazon Web Services to provide turnkey space and power for AI workloads. The Nasdaq-listed Bitcoin miner will deliver 300 MW of capacity in 2026, including both air and liquid cooling infrastructure. Cipher's stock jumped roughly 22% on the news.

Top tech companies are pursuing deals with data center firms to secure computing power as AI demand accelerates. Cipher also