Nvidia to invest up to $2.1 billion in IREN as part of AI data center deal
Nvidia will invest up to $2.1 billion in IREN to deploy up to 5 gigawatts of AI data center infrastructure, addressing the surging demand for computing power from AI developers. The partnership aims to accelerate large-scale AI factories by combining Nvidia’s technology with IREN’s operational expertise, with a focus on the 2-gigawatt Sweetwater campus in Texas.
Nvidia announced a $2.1 billion investment in IREN to expand AI data center capacity, deploying up to 5 gigawatts of infrastructure to meet rising demand. The deal, revealed on Thursday, highlights the growing need for computing power as AI adoption accelerates, with major tech firms planning over $700 billion in AI-related spending this year. The partnership merges Nvidia’s AI factory architecture with IREN’s infrastructure expertise, aiming to speed up the construction of large-scale AI facilities. Future expansions will prioritize IREN’s 2-gigawatt Sweetwater campus in Texas, supporting high-performance computing needs. IREN, a neocloud provider, previously secured a $9.7 billion cloud deal with Microsoft and specializes in offering cloud computing services built on Nvidia processors. This allows major tech companies to access advanced computing power without building their own data centers. The collaboration follows recent reports from U.S. tech giants signaling sustained AI investment, reinforcing the industry’s reliance on scalable infrastructure. IREN’s stock rose around 9% in extended trading after the announcement, closing at $56.85 earlier in the day. The deal also includes a five-year option for Nvidia to purchase up to 30 million IREN shares at $70 each.
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