IREN signs $1.6B Dell Blackwell deal to scale AI cloud

On May 26–27, 2026, data center operator IREN said it agreed to buy about $1.6 billion of Nvidia Blackwell-based systems from Dell Technologies to serve a previously announced $3.4 billion, five‑year AI cloud contract. The systems will be deployed at IREN’s Childress, Texas campus and are expected to lift annualized AI cloud run‑rate revenue from $3.7 billion to $4.4 billion once commissioned in early 2027.([moneycontrol.com](https://www.moneycontrol.com/news/business/companies/iren-to-buy-blackwell-systems-from-dell-for-about-1-6-billion-13932157.html))