IREN Limited (NASDAQ: IREN) delivers Horizon 1 to Microsoft and secures NVIDIA Exemplar Cloud status
Rhea-AI Filing Summary
IREN Limited reported that Horizon 1, the first of four planned AI cloud deployments at its Childress, Texas campus, has been delivered to and accepted by Microsoft. Horizon 1 is a 50MW (IT load) direct-to-chip liquid cooled AI Cloud deployment under a previously announced $9.7bn, five-year cloud services contract disclosed in November 2025.
The company also obtained NVIDIA Exemplar Cloud status for its NVIDIA GB300 NVL72 deployment at Horizon 1, following NVIDIA testing. IREN continues to target expansion to 480MW (gross) AI Cloud capacity in 2026 and 1.2GW (gross) in 2027, leveraging its vertically integrated model across data center design, engineering and construction.
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8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Cloud services contract value: $9.7bn
Horizon 1 capacity: 50MW (IT load)
Number of planned Horizons: 4 deployments
+3 more
6 metrics
Cloud services contract value
$9.7bn
Five-year cloud services contract with Microsoft announced in November 2025
Horizon 1 capacity
50MW (IT load)
Capacity of the first direct-to-chip liquid cooled AI Cloud deployment delivered to Microsoft
Number of planned Horizons
4 deployments
Horizon 1 is the first of four 50MW AI Cloud deployments scheduled for Microsoft in 2026
2026 AI Cloud capacity target
480MW (gross)
Targeted AI Cloud capacity for 2026
2027 AI Cloud capacity target
1.2GW (gross)
Targeted AI Cloud capacity for 2027
Contract term
Five years
Duration of the Microsoft cloud services contract announced in November 2025
Key Terms
NVIDIA Exemplar Cloud status, direct-to-chip liquid cooled AI Cloud deployments, IT load, vertically integrated model, +1 more
5 terms
NVIDIA Exemplar Cloud status technical
"IREN has achieved NVIDIA Exemplar Cloud status on NVIDIA GB300 NVL72."
direct-to-chip liquid cooled AI Cloud deployments technical
"four 50MW (IT load) direct-to-chip liquid cooled AI Cloud deployments scheduled"
IT load technical
"four 50MW (IT load) direct-to-chip liquid cooled AI Cloud deployments"
vertically integrated model financial
"reflects the agility of IREN’s vertically integrated model, which provides end-to-end control"
A vertically integrated model is a business structure in which a company controls multiple steps of its supply chain—such as raw materials, manufacturing, distribution and sales—rather than relying on outside suppliers or partners. For investors this matters because integration can lower costs, improve quality control and speed up delivery like a bakery that grows its own wheat and runs its own shops, but it also ties up capital and concentrates operational risk.
AI training and inference technical
"delivering data centers, compute and software for AI training and inference."
Training is the process of teaching a machine-learning system by feeding it lots of examples so it learns patterns, like a chef practicing a new recipe until it knows the steps. Inference is when the trained system uses what it learned to make predictions or decisions in real time, like the chef cooking a dish for a customer. Investors care because training drives upfront costs, data and infrastructure needs, and model quality, while inference determines day-to-day performance, scalability, revenue potential and ongoing operating costs and risks.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did IREN (IREN) announce regarding Horizon 1 and Microsoft?
IREN announced that Horizon 1, a 50MW AI Cloud deployment at its Childress, Texas campus, has been delivered to and accepted by Microsoft, marking the first of four planned deployments under a major cloud services contract.
What is the value and term of IREN’s cloud services contract with Microsoft?
The Microsoft cloud services contract is a $9.7bn, five-year agreement announced in November 2025. Horizon 1 is the first of four 50MW direct-to-chip liquid cooled AI Cloud deployments scheduled under this contract at IREN’s Childress, Texas campus.
What NVIDIA recognition did IREN (IREN) receive at Horizon 1?
IREN achieved NVIDIA Exemplar Cloud status on its NVIDIA GB300 NVL72 deployment at Horizon 1. This status followed NVIDIA’s testing and indicates that IREN’s infrastructure can support demanding AI workloads in terms of performance, reliability and scale.
What AI Cloud capacity targets has IREN (IREN) set for 2026 and 2027?
IREN is targeting 480MW (gross) AI Cloud capacity in 2026 and 1.2GW (gross) in 2027. These targets build on delivery of Horizon 1 and planned deployment of Horizons 2–4 at its Childress, Texas data center campus.
How does IREN describe its business model in this announcement?
IREN describes itself as a vertically integrated AI Cloud platform, providing data centers, compute and software for AI training and inference, supported by an expansive portfolio of land and grid-connected power in renewable-rich regions across North America, Europe and APAC.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 13, 2026
(Exact name of registrant as specified in its charter)
Commission File Number: 001-41072
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(State or other jurisdiction of incorporation)
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(IRS Employer Identification No.)
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(Address of principal executive offices, including zip code)
+61 2 7906 8301
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities Registered Pursuant to Section 12(b) of the Act:
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Title of each class
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registered
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter)
or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 7.01 |
Regulation FD Disclosure.
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On August 13, 2026, IREN Limited (the “Company”) issued a press release announcing the delivery to, and acceptance by Microsoft of Horizon 1, and its achievement of
NVIDIA Exemplar Cloud Status on GB300 NVL72. A copy of the press release is attached as Exhibit 99.1 hereto and incorporated by reference herein.
The information contained in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except
as expressly set forth by specific reference in such filing.
| Item 9.01 |
Financial Statements and Exhibits.
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Exhibits
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Exhibit Number
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Press release, dated August 13, 2026, announcing the delivery to, and acceptance by Microsoft of Horizon 1 and achievement of NVIDIA Exemplar Cloud Status on GB300 NVL72. |
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Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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IREN LIMITED
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/s/ William Roberts
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William Roberts
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Co-Chief Executive Officer and Director
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Date: August 13, 2026
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Exhibit 99.1
IREN Delivers Horizon 1 to Microsoft and Achieves NVIDIA Exemplar Cloud Status on GB300 NVL72
NEW YORK, August 13, 2026 (GLOBE NEWSWIRE) – IREN Limited (NASDAQ: IREN) (“IREN”) today announced that Horizon 1 has been delivered to
and accepted by Microsoft, and that IREN has achieved NVIDIA Exemplar Cloud status on NVIDIA GB300 NVL72.
Horizon 1 is the first of four 50MW (IT load) direct-to-chip liquid cooled AI Cloud deployments scheduled for delivery to Microsoft at
IREN’s Childress, Texas campus in 2026 under a five-year, $9.7bn cloud services contract announced in November 2025.
The rapid delivery of Horizon 1 to Microsoft reflects the agility of IREN’s vertically integrated model, which provides end-to-end
control across design, engineering and construction of the data centers supporting its GPU deployments.
IREN’s Exemplar Cloud status was achieved following NVIDIA’s testing of its NVIDIA GB300 NVL72 deployment at Horizon 1. The designation
demonstrates IREN’s ability to support demanding AI workloads with performance, reliability and scale.
IREN continues to target a broader expansion to 480MW (gross) AI Cloud capacity in 2026 and 1.2GW (gross) AI Cloud capacity in 2027.
Daniel Roberts, Co-Founder and Co-CEO of IREN, said:
“Delivering Horizon 1 demonstrates the strength of our vertically integrated model and our ability to execute complex AI infrastructure
projects at speed and scale.
I want to congratulate and thank the more than 3,000 people across our site team whose expertise, commitment and execution made this
milestone possible.
We look forward to building on this momentum with Microsoft as we work to deliver Horizons 2-4 later this year.”
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About IREN
IREN is a vertically integrated AI Cloud platform, delivering data centers, compute and software for AI training and inference. IREN’s
platform is underpinned by its expansive portfolio of land and grid-connected power in renewable-rich regions across North America, Europe and APAC.
Contacts
Investors
ir@iren.com
Media
media@iren.com
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or IREN’s future financial or operating performance. Forward-looking
statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies, revenue targets, expectations regarding GPU deployment, expansion and build out of data center
capacity, and trends we expect to affect our business. These statements often include words such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,”
“target”, “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled”. Forward-looking statements may also be made, verbally or in writing, by members of our Board or management team in connection with this news release.
These forward-looking statements are based on management’s current expectations and beliefs. These statements are neither promises nor
guarantees, but involve and are subject to known and unknown risks, uncertainties and other important factors that may cause IREN’s actual results, performance or achievements to differ materially from any future results performance or achievements
expressed or implied by the forward-looking statements, including IREN’s ability to successfully execute on its growth strategies and operating plans, achieve its targeted annualized AI Cloud revenue, continue to develop its existing data center
sites, design and deploy direct-to-chip liquid cooling systems, and diversify and expand into the market for high performance computing solutions (including the market for cloud services and potential colocation services), along with other important
factors discussed under the caption “Risk Factors” in IREN’s Annual Report on Form 10-K, filed with Securities and Exchange Commission (the “SEC”) on August 28, 2025 and our other filings with the SEC. These and other important factors could cause
actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any forward-looking statement included in this press release speaks only as of the date of such statement. Except as required by
law, IREN disclaims any obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements, whether as a result of new information, future events or otherwise.
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