Overview
- IREN and Nvidia unveiled Thursday a plan to deploy up to 5 gigawatts of Nvidia-aligned AI infrastructure across IREN’s data center pipeline.
- Separately, IREN signed a five-year contract worth about $3.4 billion to provide managed GPU cloud services for Nvidia’s internal AI work, starting with Blackwell systems across roughly 60 megawatts at Childress, Texas.
- Nvidia received a five-year right to buy up to 30 million IREN shares at $70 each, a potential $2.1 billion stake subject to conditions including regulatory limits.
- Following Thursday’s announcements, IREN shares jumped as much as 27% after hours and rose again Friday, even as quarterly revenue fell to $144.8 million versus about $223 million expected.
- IREN is bolstering capacity and software with a deal to acquire Spain-based Ingenostrum for about 490 megawatts of grid-connected power and a $625 million Mirantis buy to add orchestration tools, while future deployments concentrate on the 2‑gigawatt Sweetwater campus in Texas.