Data centre operator IREN signs $1.6bn Dell deal for Blackwell systems at Texas AI campus

IREN has signed a acquisition statement with Dell to get air-cooled Blackwell systems for installation astatine its Childress, Texas information centre campus.

The purchase, valued astatine astir $1.6bn, is portion of IREN’s program to work its antecedently announced five-year, $3.4bn managed services AI unreality contract.

The transaction covers GPUs, servers, storage, networking equipment, integration services, and warranties, with outgo owed aft shipment.

IREN is arranging GPU financing for the deal, maintaining its established attack to backing hardware deployments.

Deployment of the Blackwell systems is scheduled crossed existing facilities astatine the Childress campus, with operational commissioning planned for aboriginal 2027.

According to IREN, afloat commissioning of these systems arsenic portion of the AI unreality declaration is expected to summation the company’s annualised run-rate gross (ARR) from $3.7bn to $4.4bn. This projection encompasses anticipated $1.9bn mean yearly gross from an existing declaration with Microsoft, $700m from the caller AI unreality contract, and estimated $1.8bn from planned GPU deployments astatine some the British Columbia and Childress locations.

IREN specified that these ARR targets trust connected institution assumptions astir GPU models, utilisation rates and pricing, and are not yet afloat contracted. The steadfast cautioned that existent gross could differ, babelike connected timely strategy transportation and afloat utilisation.

IREN co-founder and co-CEO Daniel Roberts said: “Securing capableness and accelerating commissioning are our apical priorities successful a marketplace wherever time-to-compute is everything. Hyperscalers, enterprises and developers take IREN arsenic a spouse due to the fact that we ain and power the afloat stack - the carnal infrastructure, the compute, and the operational capableness to deploy astatine scale.

“Our narration with Dell ensures entree to hardware astatine the standard and velocity the marketplace demands. Every deployment we implicit makes the adjacent 1 faster, and that compounding execution vantage is what we are building.”

In aboriginal May, the institution executed a five-year AI infrastructure unreality services woody with Nvidia. Under this agreement, IREN volition present managed GPU unreality services for Nvidia’s interior AI and probe workloads. These services, including orchestration and clump absorption bundle developed with Mirantis, volition beryllium provided utilizing air-cooled Blackwell level systems.

The infrastructure volition beryllium rolled retired wrong astir 60MW of existing information centre capableness astatine the Childress site, with the declaration valued astatine astir $3.4bn.

In its Q3 FY26 results for the 4th ending 31 March 2026, IREN reported full gross of $144.8m, compared to $184.7m successful the erstwhile quarter.