IREN Ltd.: Analysts React with Price Target Increases to the $9.7 Billion Deal with Microsoft!

IREN Limited (IREN) has entered into a significant multi-year contract for GPU cloud services with Microsoft on November 3rd, with a total value of approximately $9.7 billion and a 20% upfront payment. Under this agreement, IREN will provide Microsoft access to NVIDIA GB300 GPUs over a five-year period. To procure the necessary hardware, IREN has simultaneously signed a separate agreement with Dell Technologies for the purchase of the GPUs and associated equipment valued at about $5.8 billion. The planned delivery of the GPUs will occur gradually...