NVIDIA H100 GPU cloud contract signed with AI company, poolside

SYDNEY, Australia, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Iris Energy Limited (NASDAQ: IREN) (together with its subsidiaries, “Iris Energy” or “the Company”), a leading owner and operator of next-generation data centers powered by 100% renewable energy, today announces commencement of GPU cloud service with leading AI company, Poolside AI SAS (“poolside”).

Key Highlights

• NVIDIA H100 GPU cloud services agreement with leading AI company, poolside
• Contract secured following rigorous customer testing requirements
• Initial 3-month term and extension option for an additional 3 months at the customer’s election
  

Iris Energy has executed a cloud service agreement with poolside for 248 NVIDIA H100 GPUs. The contract is for an initial 3-month term, with an extension option for an additional 3 months at the customer’s election.

Poolside closed a $126m seed funding round in mid-2023 and is building the world’s most capable AI for software development. Their approach of RLCEF (Reinforcement Learning from Code Execution Feedback) sets them apart from other frontier AI companies focused on general-purpose models.

Iris Energy’s cloud technology environment and architecture, which utilizes its existing next-generation data centers, has now met all of poolside’s rigorous testing requirements. The cloud service commenced on February 5, 2024.

Jason Warner, CEO & Co-Founder of poolside and ex-CTO of GitHub, commented:

“We’re excited to select Iris Energy as a cloud services partner. Our business, like many others, has a substantial growing demand for GPU compute and we have been impressed with the professionalism and quality shown by Iris Energy during our testing and selection process.”

Daniel Roberts, Co-Founder and Co-CEO of Iris Energy, commented:

“We are pleased to partner with a company the calibre of poolside. We look forward to further growing our GPU cloud services business and servicing the growing market demand we are seeing for these services.”

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Iris Energy’s future financial or operating performance. For example, forward-looking statements include but are not limited to the Company’s business strategy, expected operational and financial results, and expected increase in power capacity and hashrate. In some cases, you can identify forward-looking statements by terminology such as “anticipate,” “believe,” “may,” “can,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “target”, “will,” “estimate,” “predict,” “potential,” “continue,” “scheduled” or the negatives of these terms or variations of them or similar terminology, but the absence of these words does not mean that statement is not forward-looking. Such forward-looking statements are subject to risks, uncertainties, and other factors which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking.