Read, Watch or Listen

Microsoft has agreed to spend about $9.7 billion on artificial intelligence computing capacity from IREN Ltd., making the Sydney-based firm’s largest customer. The five-year deal gives Microsoft access to Nvidia systems in Texas built for AI workloads and includes a 20% prepayment, IREN said Monday. To fulfill the agreement, IREN agreed to buy $5.8 billion in graphics processing units and related equipment from Dell Technologies.

Prepared by Christopher Adams and reviewed by editorial team.