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Microsoft has entered into an approximately $9.7 billion cloud services contract with artificial intelligence cloud service provider iren that will give it access to some of nvidia’s chips. Microsoft announced monday that it has export licenses to ship nvidia chips to the united arab emirates to help boost its artificial intelligence goals. Microsoft partners with iren in a $9.7b deal to access nvidia chips and expand ai capacity without building new data centers.
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The news sent shares of iren up as much as 24.7% to a record high on monday, with the stock last up nearly 10%
