According to an Nvidia press release on Thursday, IREN Limited and Nvidia announced a strategic partnership to deploy up to 5 gigawatts of AI infrastructure across IREN’s global data center pipeline. As part of the agreement, IREN granted Nvidia warrants to purchase up to 30 million shares at $70 each over five years, representing a potential $2.1 billion equity stake if fully exercised. Future deployments are expected to focus on IREN’s 2 GW Sweetwater campus in Texas. IREN’s stock surged more than 25% to over $71 in Thursday’s after-hours trading session.
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