IREN Limited said on Thursday that Microsoft Corporation accepted the first artificial intelligence computing facility completed under its five-year, $9.7 billion cloud services agreement. Horizon 1 is the first of four facilities IREN plans to complete at its campus in Childress, Texas, this year to provide Microsoft with computing power for AI services. Nvidia also awarded the facility Exemplar Cloud status after testing its GB300 NVL72 system. "Delivering Horizon 1 demonstrates the strength of our vertically integrated model and our ability to execute complex AI infrastructure projects at speed and scale," Co-Founder and Co-CEO of IREN Daniel Roberts said. "We look forward to building on this momentum with Microsoft as we work to deliver Horizons 2-4 later this year," he added. IREN's US-listed stock rose by 4.33% during premarket trading, going for $45.56 at 8:21 am ET following the report release.