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Bitcoin miner-turned-AI infrastructure firm IREN Limited has struck a strategic partnership with Nvidia that includes warrants to purchase up to 30 million IREN shares at $70 each over five years — a potential $2.1 billion equity stake if fully exercised. IREN's stock surged more than 25% in after-hours trading Thursday, briefly topping $71 before settling near $68.
The two companies plan to jointly deploy up to 5 gigawatts of Nvidia DSX-aligned AI infrastructure across IREN's global data center pipeline, with IREN's 2 GW Sweetwater campus in Texas expected to serve as the flagship site. Jensen Huang called AI factories "foundational infrastructure for the global economy" and pointed to IREN's power, land, and operations expertise as critical to scaling next-generation compute.
The Nvidia deal follows IREN's $625 million all-stock acquisition of cloud infrastructure software firm…
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