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AI Cloud Firm IREN Signs On As Real Madrid Sponsor, Joining Emirates, Adidas And HP

The AI cloud company, whose customers include Microsoft and Nvidia, joins a Real Madrid roster led by Emirates, Adidas and HP.

Matteo Parrino Jonathan Ponciano

Matteo Parrino, Jonathan Ponciano

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AI Cloud Firm IREN Signs On As Real Madrid Sponsor, Joining Emirates, Adidas And HP

IREN, a Sydney-based AI cloud company, signed on Sunday as an official sponsor of Real Madrid, adding its name to a club partner list that features Emirates and Adidas.

What IREN does

The company used to mine bitcoin but now builds data centers and leases their GPU computing capacity to AI developers. That cloud business brought in $128.8 million in the fiscal year through June 30, against $16.4 million the prior year.

Two deals anchor it. IREN's annual proxy filing shows Microsoft committing about $9.7 billion over five years for dedicated GPU capacity, while Nvidia agreed to a five-year cloud contract valued near $3.4 billion.

Spain is not new ground for IREN. Its June purchase of Nostrum Group gave it Spanish development sites plus local staff to develop and build them.

The stock

At Friday's close, IREN traded near $27, about 37% lower than where it began the year and under the $28.00 at which it listed in 2021.

Real Madrid's other sponsors

Both of the club's biggest partners recommitted in June: Adidas will make the kit through 2034, and Emirates keeps the front of the shirt through 2031.

HP, which in 2024 became the first brand ever worn on Real Madrid's sleeve, together with Emirates and Adidas pays the club €290 million to €300 million a year. It counted more than 30 corporate partners in all.

IREN shareholders meet virtually on November 24 for the company's annual general meeting.

Sources

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