Iren, the tech infrastructure provider founded by two former Macquarie banker brothers to mine bitcoin in 2018, had already made a lucrative pivot to chase the AI gold rush before last night, but a near-$15 billion deal with Microsoft marks it as a major player in the global neo-cloud boom.
The numbers involved in the deal show how huge the market has become for providing the equipment to train and run artificial intelligence systems, and if analysts’ projections are right, there are huge fortunes still to be made.
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