Overview
- NVIDIA and IREN unveiled a partnership Thursday to speed deployment of up to 5 gigawatts of AI data center capacity.
- As part of the tie-up, IREN granted NVIDIA a five-year right to buy up to 30 million shares at $70, enabling as much as $2.1 billion of investment.
- IREN also announced a five-year, roughly $3.4 billion managed‑services contract to run NVIDIA’s internal AI workloads on air‑cooled Blackwell systems at about 60MW in Childress, Texas.
- IREN’s fiscal Q3 revenue came in at $144.8 million, missing analyst estimates, which shifts attention to how quickly these new contracts turn into recognized sales.
- The company is shifting from Bitcoin mining to a full‑stack neocloud, strengthened by a $625 million Mirantis deal for Kubernetes orchestration and by new grid‑connected capacity in Texas.