For the increase in $IREN (-3,34%)
IREN Limited (NASDAQ:IREN) shares are up 27% after the company announced a strategic partnership with NVIDIA (NASDAQ:NVDA) to build up to 5 gigawatts of AI infrastructure and a separate agreement to acquire Spanish data center developer Ingenostrum, S.L.
Under the partnership, NVIDIA and IREN will work together to deliver NVIDIA-accelerated computing in "DSX AI factories" to expand access for AI-native, startup and enterprise customers. IREN granted NVIDIA a five-year right to purchase up to 30 million shares at a price of $70 per share. This represents a potential investment of $2.1 billion, subject to certain conditions, including regulatory approvals.
Future installations are expected to be centered on IREN's 2-gigawatt campus in Sweetwater, Texas. The companies expect this to serve as a showcase implementation for NVIDIA's DSX architecture.
"AI factories are becoming the foundational infrastructure for the global economy," said Jensen Huang, founder and CEO of NVIDIA. "Deploying these systems at scale requires deep integration across the entire technology stack - from compute, network, software and power to operations. IREN brings the scale and infrastructure expertise needed to accelerate the global deployment of the next generation of AI infrastructure."
Separately, IREN announced an agreement to acquire Ingenostrum, S.L., marking its entry into the European market. The acquisition adds approximately 490 megawatts of secured, grid-connected power capacity in Spain, bringing IREN's total energy portfolio to 5 gigawatts.
