Bitcoin miner-turned-AI infrastructure firm IREN Limited has struck a strategic partnership with Nvidia to accelerate the deployment of next-generation AI data centers.
Nvidia and IREN intend to support the deployment of up to 5 gigawatts of NVIDIA DSX-aligned AI infrastructure across IREN’s global data center pipeline, according to a Thursday press release. They will collaborate on the deployment of NVIDIA accelerated compute in DSX AI factories to expand access to AI-native, startup, and enterprise customers.
As part of the agreement, IREN (IREN) granted Nvidia warrants to purchase up to 30 million shares at $70 each over five years — a potential $2.1 billion equity stake if fully exercised.
"AI factories are becoming foundational infrastructure for the global economy," Jensen Huang, founder and CEO of NVIDIA, said in the release. "Deploying these systems at scale requires deep integration across the full stack — compute, networking, software, power and operations. IREN brings the scale and infrastructure expertise to help accelerate the buildout of next-generation AI infrastructure globally. Together, we are building for the age of AI."
Future deployments are expected to focus on IREN's 2 GW Sweetwater campus in Texas, which the companies expect to serve as a flagship deployment for NVIDIA's DSX architecture.
"This partnership combines NVIDIA’s AI systems and architecture leadership with IREN’s expertise across power, land, data centers, GPU deployment and infrastructure operations," said Daniel Roberts, cofounder and co-CEO of IREN. "Together, we believe we can accelerate deployment of AI infrastructure and expand access to compute for AI-native and enterprise customers globally."
Earlier this week, IREN acquired cloud infrastructure software firm Mirantis in a $625 million all-stock deal aimed at expanding its AI cloud platform capabilities.
Of note, the company was scheduled to release quarterly earnings on Thursday, but those have yet to be announced.
IREN's stock traded higher by more than 25% to over $71 in Thursday's after-hours trading session before pulling back a bit to the $68 level. The stock is up more than 30% in the year-to-date period, according to The Block's equities data.