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IREN inks AI infrastructure agreement with Nvidia
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IREN shares surged in extended-trading on Thursday before giving back nearly all of the gains after the data center operator announced a partnership with semiconductor giant Nvidia.
Key facts
In Nov. 2025, IREN and Microsoft inked a multi-year $9.7 billion deal "to deliver GPU cloud infrastructure powered by NVIDIA GB300 GPUs" at its Childress, Texas
In a separate release, IREN said it signed a five-year deal worth $3.4 billion to provide Nvidia with access to managed GPU cloud services "for its internal AI and research workloads
IREN shares climbed to around 27% as the news broke, then retreated and settled up about 6%
The data center operator will issue Nvidia a five-year right to purchase up to 30 million shares of its ordinary stock at an exercise price of $70 per share, the company said in an announcement
Summary
Nvidia and IREN will deploy up to 5 gigawatts of the chip maker's DSX-branded infrastructure designs intended to power artificial intelligence workloads throughout the Australian firm's data center facilities across the world. IREN shares climbed to around 27% as the news broke, then retreated and settled up about 6%. The data center operator will issue Nvidia a five-year right to purchase up to 30 million shares of its ordinary stock at an exercise price of $70 per share, the company said in an announcement. "AI factories are becoming foundational infrastructure for the global economy," Nvidia CEO Jensen Huang said in a statement.