On May 27, IREN Ltd rose 5.22% in regular trading, trading at $63.7/share, with trading volume of approximately $1.002 billion. The rally was driven by the company's announcement of a major hardware procurement agreement with Dell Technologies.

IREN disclosed it has entered into an approximately $1.6 billion purchase agreement with Dell for air-cooled NVIDIA Blackwell architecture AI computing systems, which will be deployed at its Childress campus in Texas and are expected to become operational by early next year. This procurement falls under IREN's previously announced five-year, $3.4 billion cloud computing AI services contract with Dell. According to company projections, once operational, the deployment is expected to boost IREN's annualized recurring revenue from $3.7 billion to $4.4 billion.

The deal reinforces IREN's deepening ties with major technology partners. Earlier this month, NVIDIA announced plans to invest up to $2.1 billion in IREN, while Microsoft has previously committed to a $9.7 billion computing capacity agreement, collectively underscoring strong institutional confidence in IREN's AI infrastructure expansion strategy.

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