IREN (NASDAQ: $IREN) is spending $1.6 billion U.S. to purchase Dell Technologies (NYSE: $DELL) air-cooled Blackwell systems for its artificial intelligence (A.I.) data centres.
The new systems will be deployed across IREN’s data centres located in Childress, Texas, said the company in a news release.
The Texas A.I. data centres are expected to be operational in 2027 and increase IREN’s annual revenue from $3.7 billion U.S. to $4.4 billion U.S.
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The agreement with Dell comes as IREN races to bring it’s A.I. data centre campus online amid rising demand for A.I. compute capacity.
Mega-cap technology companies, enterprises, and developers around the world are racing to secure infrastructure for next-generation A.I. workloads.
For Dell, the sale of its air-cooled Blackwell systems to IREN reinforces its leading role in helping to develop A.I. data centres and other infrastructure.
Dell makes the servers that run large clusters of microchips and semiconductors that power A.I. workloads and models.
Those servers are viewed as critical to the development and ongoing operations of data centres that run both A.I. and high-performance computing (HPC).
IREN stock has risen 40% this year to trade at $59.78 U.S. per share. DELL stock has gained 139% so far in 2026 to trade at $305.08 U.S. a share.
