AdvertisementAdvertisementBusinessThe logo of Dell Technologies is displayed over a booth at the Web Summit digital trade show in Vancouver, British Columbia, Canada, May 12, 2026. REUTERS/Chris Helgren27 May 2026 06:36AM Bookmark Bookmark WhatsApp Telegram Facebook Twitter Email LinkedInAdd CNA as a trusted source to help Google better understand and surface our content in search results.Read a summary of this article on FAST.Get bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST May 26 : Data center operator IREN said on Tuesday it has agreed to buy Nvidia's air-cooled Blackwell systems from Dell for about $1.6 billion, as it aims to bring more capacity online to keep up with soaring AI demand.The deal is to service its previously announced five-year $3.4 billion cloud AI service contract with Dell, an AI server maker, IREN said in a statement.• 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.• Upon commissioning, the contract is expected to increase IREN's annualized run-rate revenue (ARR) to $4.4 billion from $3.7 billion, reflecting ongoing progress in bringing GPU capacity online.Show MoreShow Less• The purchase price of $1.6 billion covers all equipment and services, including GPUs, servers, storage, networking, ancillary equipment, integration services and warranties, with payments made after delivery, IREN said.• "Securing capacity and accelerating commissioning are our top priorities in a market where time-to-compute is everything," according to IREN Co-CEO Daniel Roberts.• Separately, Nvidia said earlier this month that it would invest up to $2.1 billion in IREN, as part of a broader deal to deploy up to 5 gigawatts of infrastructure.• In November, Microsoft struck a $9.7 billion deal with IREN that includes access to Nvidia's advanced chips.Source: ReutersNewsletterWeek in ReviewSubscribe to our Chief Editor’s Week in ReviewOur chief editor shares analysis and picks of the week's biggest news every Saturday.Sign up for our newslettersGet our pick of top stories and thought-provoking articles in your inboxSubscribe hereGet the CNA appStay updated with notifications for breaking news and our best storiesDownload hereGet WhatsApp alertsJoin our channel for the top reads for the day on your preferred chat appJoin hereAlso worth readingContent is loading...Expand to read the full storyGet bite-sized news via a newcards interface. Give it a try.Click here to return to FAST Tap here to return to FASTFAST