Data center operator IREN agrees to buy Nvidia's Blackwell systems from Dell for about $1.6 billion

IREN said it has agreed to buy Nvidia's air-cooled Blackwell systems from Dell for about $1.6 billion to service a previously announced five-year $3.4 billion cloud AI service contract with Dell.

The Blackwell systems will be set up across existing data centers at IREN's Childress, Texas campus and are expected to be ready by early 2027. The $1.6 billion purchase price covers all equipment and services, including GPUs, servers, storage, networking, ancillary equipment, integration services and warranties, with payments made after delivery.

Upon commissioning, the contract is expected to increase IREN's annualized run-rate revenue to $4.4 billion from $3.7 billion.