Nvidia secures $3.4 billion in GPU cloud services from IREN, gaining a five-year option to buy 30 million shares at $70 each.
IREN and Nvidia agreed to a $3.4 billion deal to deploy up to 5 gigawatts of AI infrastructure using Nvidia’s DSX architecture. The partnership begins at IREN’s 2-gigawatt Sweetwater campus in Texas, targeting next-generation AI workloads.
As part of the agreement, Nvidia received a five-year option to purchase 30 million IREN shares at $70 per share, valuing potential equity rights at $2.1 billion. The deal also includes $3.4 billion in managed GPU cloud services for Nvidia’s internal AI and research needs.
IREN shares initially surged in after-hours trading but retreated following an earnings miss disclosed later.