"Microsoft has entered into a $9.7 billion cloud services contract with artificial intelligence cloud service provider IREN that will give it access to some of Nvidia's chips. Microsoft spent nearly $35 billion in the July-September quarter on capital expenditures to support AI and cloud demand, nearly half of that on computer chips and much of the rest related to data center real estate."
"IREN's expertise in building and operating a fully integrated AI cloud from data centers to GPU stack combined with their secured power capacity makes them a strategic partner, Jonathan Tinter, president of business development and ventures at Microsoft, said in a statement. This collaboration unlocks new growth opportunities for both companies and the customers we serve. Microsoft also announced new deal with OpenAI last week that pushed the Redmond, Washington, company to $4 trillion in valuation for the second time this year."
Microsoft entered a $9.7 billion, five-year cloud services contract with AI cloud provider IREN to gain access to some Nvidia chips. Quarterly sales rose 18% to $77.7 billion; capital expenditures in July–September neared $35 billion to support AI and cloud demand, with about half on chips and much of the rest on data center real estate. IREN operates a fully integrated AI cloud from data centers to GPU stack and provides secured power capacity, making them a strategic partner. IREN signed a $5.8 billion deal with Dell for chips to be deployed at Childress, Texas. Microsoft also secured a 27% stake in OpenAI's new for-profit corporation.
Read at www.mercurynews.com
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