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IREN shares increased by 4% in pre-market trading following the announcement of a $1.6 billion purchase agreement with Dell Technologies for air-cooled Blackwell systems, according to CoinDesk. This deal aims to enhance IREN's AI infrastructure and support its five-year, $3.4 billion managed services AI cloud contract. The systems will be deployed at IREN's Childress, Texas facilities, with commissioning expected by early 2027. The contract is projected to boost IREN's annualized run-rate revenue from $3.7 billion to $4.4 billion, solidifying its position in the AI cloud services market.