IREN to Acquire BlackBurry Systems from Dell for Approximately $1.6 Billion

IREN to Acquire Nvidia's Air-Cooled Blackwell Systems from Dell for $1.6 Billion

Data centre operator IREN announced on Tuesday that it has agreed to purchase Nvidia's air-cooled Blackwell systems from Dell Technologies for approximately $1.6 billion. This acquisition is part of IREN's efforts to rapidly expand its capacity to meet the soaring demand for artificial intelligence infrastructure.

The deal will support IREN's previously announced five-year cloud AI services contract with Dell, valued at $3.4 billion. According to the company, the Blackwell systems will be deployed across existing data centres at IREN's campus in Childress and are expected to be operational by early 2027.

Once commissioned, the contract is expected to raise IREN's annualised run-rate revenue to $4.4 billion from $3.7 billion, reflecting continued progress in bringing additional GPU capacity online. The $1.6 billion purchase price covers all equipment and services, including GPUs, servers, storage, networking, ancillary equipment, integration services, and warranties. Payments will be made after delivery.

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As part of its broader expansion plans, IREN is also benefiting from a separate agreement with Nvidia. Earlier this month, Nvidia announced that it would invest up to $2.1 billion in IREN as part of a deal to deploy up to 5 gigawatts of infrastructure. This investment is expected to further support IREN's growth in the artificial intelligence infrastructure market.