Nvidia’s stock forecast is revised upward following a $2.1 billion partnership with IREN to deploy AI infrastructure globally.
Goldman Sachs adjusted its price target for Nvidia (NVDA) ahead of the company’s earnings release, citing strong demand for AI infrastructure. NVDA shares trade near $215, up 15.3% year-to-date, outperforming the S&P 500’s 8.1% gain in the same period.
The revision follows a partnership with IREN Limited (IREN) to deploy up to 5 GW of Nvidia AI infrastructure across IREN’s data center pipeline. Nvidia secured a five-year right to purchase up to 30 million IREN shares, potentially investing $2.1 billion. Over 89% of Nvidia’s revenue stems from data centers, per its latest 10-K filing.
Nvidia’s CEO Jensen Huang emphasized AI factories as critical global infrastructure, aligning with the company’s push to expand its data center footprint.