From the brink to billionaires: Sydney brothers land $14.8 billion Microsoft deal
smh.com.au/business/companies/aussie-data-centre-operator-lands-14-8b-ai-deal-with-microsoft-20251104-p5n7i2.html
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Microsoft agrees $14.8 billion deal with IrenThe agreement includes a 20% prepayment, with Nvidia systems due for deployment in Texas through 2026.
Key FactsNov 3, 2025 · Reading time: ~45 sec.
Summary created with AI assistance · Source: smh.com.au
Summary created with AI assistance · Source: smh.com.au
- The five-year agreement makes Microsoft Iren’s largest customer and gives the company access to Nvidia systems in Texas.
- The 20% prepayment amounts to about $2 billion under the agreement.
- The GPUs are to be deployed through 2026 at Iren’s 750-megawatt Childress campus, generating approximately $1.94 billion in annual revenue.
- The ASX rejected Iren four years ago when the company sought an Australian stock-market listing.
We sit here today looking back over the multi-decade resource boom, and lament sending all these commodities offshore for other people to add value and monetise. We are sitting here with the exact same opportunity in front of us now for the fourth industrial revolution.— Daniel Roberts, Iren co-founder, in discussing Australia's missed opportunity and the fourth industrial revolution.
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