IREN Partners with Nvidia for AI Infrastructure
Shares of IREN (NASDAQ: IREN) surged after the company announced a strategic partnership with Nvidia (NASDAQ: NVDA) on Friday. The collaboration entails deploying up to 5 gigawatts of next-generation AI infrastructure to support enterprise AI customers, utilizing Nvidia’s advanced DSX architecture and chips.
Under a five-year contract worth up to $3.4 billion, IREN will also provide managed cloud computing services for Nvidia’s AI and research operations. Moreover, Nvidia has secured an option to purchase up to 30 million shares of IREN at $70 per share, potentially totaling $2.1 billion in investment. Over the past year, IREN’s shares have soared by 789%, marking a significant year for the company.
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