Microsoft AI Cloud Services Contract
Company: IREN
The claim, verbatim
Signed a $9.7 billion five-year contract with Microsoft for AI cloud services with 20% prepayment credited to years 3-5 and phased deployment starting in 2026
Source (primary)
iren 8-K exhibit (ef20058139_ex99-2.htm) (SEC EDGAR (8-K Ex), press_release)
View cached copy (2026-09-27)Live source ↗
Quote: “$9.7bn AI Cloud Contract with Microsoft”
How we checked this
Checked on September 28, 2026. The cited source supports every part of this claim.
The Microsoft contract slides state a $9.7bn total contract value, a 5-year term, a 20% prepayment credited to years 3-5, and phased starts targeted for 2026.
Confirmed in the source:
- IREN signed an AI cloud contract with Microsoft
- The contract has a total value of $9.7 billion
- The contract has a five-year (5-year average) term
- The contract includes a 20% prepayment credited to years 3-5
- Deployment is phased, targeting starts in 2026
What we did: Read our cached copy of SEC EDGAR (8-K Ex) (https://www.sec.gov/Archives/edgar/data/1878848/000114036125040072/ef20058139_ex99-2.htm) in full (15,597 characters, retrieved September 27, 2026) and checked each assertion in the claim against it.
Additional evidence
confirms iren 8-K exhibit (ef20058139_ex99-2.htm)
Quote: “$9.7bn AI Cloud Contract with Microsoft”