IREN inks AI infrastructure deal with Nvidia

IREN Shares rose in extended trading Thursday before giving back nearly all of their gains after the data center operator announced a partnership with the semiconductor giant. Nvidia.

Nvidia and IREN will deploy up to 5 gigawatts of the chipmaker’s DSX-branded infrastructure designs to power AI workloads at the Australian firm’s data center facilities around the world.

IREN shares rose about 27% after the news broke, then pulled back and settled at about 6%.

While IREN previously specialized in data centers specifically designed for bitcoin mining, it is increasingly providing AI-related infrastructure services as part of the AI ​​boom. Inked in November 2025 $9.7 billion deal With Microsoft as part of its AI push.

The data center operator will grant Nvidia a five-year right to acquire up to 30 million shares of common stock at an exercise price of $70 per share, the company said in its announcement. Through the agreement, Nvidia will have the right to invest $2.1 billion in the company.

“AI factories are becoming essential infrastructure for the global economy,” Nvidia CEO Jensen Huang said in a statement. “Deploying these systems at scale requires deep integration across the entire stack—compute, networking, software, power, and operations.”

Nvidia has strengthened its stack by making similar deals involving multibillion-dollar acquisition deals with companies like Consistent, Lumentum and earlier this week, Corning.

Separately releaseIREN said it signed a five-year deal worth $3.4 billion to give Nvidia access to managed GPU cloud services “for internal AI and research workloads.” Deployment will take place at IREN’s existing data centers in Childress, Texas.