{Ag2(12‐C≡C‐closo‐1‐CB11H11)}n and selected pyridine ligands have been used for the synthesis of photostable AgI clusters that, with one exception, exhibit for AgI compounds unusual room‐temperature phosphorescence. Extraordinarily intense phosphorescence was observed for a distorted pentagonal bipyramidal AgI7 cluster that shows an unprecedented quantum yield of Φ=0.76 for AgI clusters. The luminescence properties correlate with the structures of the central AgIn motifs as shown by comparison of the emission properties of the clusters with different numbers of AgI ions, different charges, and electronically different pyridine ligands.