Adds contract details and share movement

Nov 3 (Reuters) - Data center owner and operator IREN IREN.O said on Monday it has signed a nearly $9.7 billion cloud services contract with Microsoft MSFT.O to provide the tech giant with access to Nvidia's NVDA.O GB300 processors over a five-year period.

The move is the latest attempt by Microsoft to boost AI and data center infrastructure at a time when AI demand is outstripping cloud capacity at Big Tech companies.

Shares of IREN surged about 18% in premarket trading after the announcement, with the company also entering into an agreement with Dell Technologies DELL.N to purchase the chips and ancillary equipment for about $5.8 billion.

IREN expects the GB300 processors to be deployed in phases through 2026 at its 750-megawatt campus in Childress, Texas and said its contract with Microsoft includes a 20% prepayment.

(Reporting by Deborah Sophia in Bengaluru; Editing by Arun Koyyur)

(( DeborahMary.Sophia@thomsonreuters.com ;))

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Keywords: MICROSOFT-IREN/ (UPDATE 1)