IREN Stock Jumps 27% on Nvidia's $2.1B Deal

Neocloud company IREN Ltd. has secured a $2.1 billion commitment from Nvidia as part of a data center partnership targeting AI workloads, with plans to deploy up to 5 gigawatts of Nvidia DSX infrastructure across IREN's global facilities. Nvidia will receive a five-year right to purchase up to 30 million IREN shares at $70 each. IREN's stock surged over 27% on the news before settling at an 8% gain. The deal adds to IREN's recent momentum, which includes a $9.7 billion Microsoft contract and a $625 million acquisition of Mirantis. A separate five-year, $3.4 billion agreement grants Nvidia access to IREN's managed GPU cloud for internal AI research.