$IREN (+0,08 %) today announced the acquisition of Mirantis announced today. Payment will be made entirely in IREN shares, the purchase price is 625 million dollars.
Why is $IREN (+0,08 %) the company?
$IREN (+0,08 %) has so far mainly focused on the hardware side of AI data centers: own power connections, data centers and large GPU clusters for AI workloads.
Mirantis brings the software and operations side:
- Over 10 years of experience with cloud infrastructure
- Kubernetes orchestration (i.e. the system used to control GPUs and containers (=software packages) on a large scale)
- Around 1,500 corporate customers worldwide
- own platform "k0rdent AI" for the management of AI infrastructure
Why is the deal important?
$IREN (+0,08 %) not only wants to rent out computing power, but also a deliver a complete AI cloud. With Mirantis come four levers are added:
Faster onboarding - Customer workloads go live faster on IREN GPUs
Better monitoring - More transparency on performance and utilization
Enterprise support - Mirantis already has support teams for major customers
Larger market - In addition to AI natives (hyperscalers, LLM providers), IREN can now also address traditional companies
Mirantis remains an independent subsidiary and continues to support its existing customers, while at the same time integrating the technology into IREN's AI Cloud
$IREN (+0,08 %) The company is thus purchasing the missing software layer and is clearly moving from a pure infrastructure player to a full-stack provider. This increases the margin per GPU and reduces the dependency on pure hardware rental.
Also important: The CEO said in the last earnings call: "One of the contracts we are currently negotiating, is a contract worth several billion dollars where we have to provide a software solution."
It remains exciting 🚀
