The strategic partnership between IREN and Nvidia for AI infrastructure expansion sent the stock surging more than 25% in after-hours trading.
IREN Limited, a former Bitcoin miner turned AI infrastructure company, announced on May 7, 2026 a strategic partnership with Nvidia to accelerate the deployment of next-generation data centers. The agreement involves collaboration on the installation of up to 5 gigawatts of AI infrastructure aligned with the NVIDIA DSX architecture, distributed across IREN’s global data center pipeline.
As part of the deal, IREN has granted Nvidia warrants to purchase 30 million shares at $70 each, exercisable over a five-year period. If fully exercised, the warrants would translate into an equity stake worth $2.1 billion. IREN’s stock responded with a gain of more than 25% in Thursday’s after-hours session, reaching $71 before settling around $68. Year-to-date, the stock is up more than 30%.
Jensen Huang, founder and CEO of Nvidia, commented on the deal by stating that “AI factories are becoming fundamental infrastructure for the global economy,” adding that “deploying these systems at scale requires deep integration across the entire stack – compute, networking, software, energy, and operations.” Daniel Roberts, co-founder and co-CEO of IREN, emphasized how “this partnership combines NVIDIA’s leadership in AI systems and architecture with IREN’s expertise in energy, land, data centers, GPU deployment, and infrastructure operations.”
Future deployments will focus primarily on IREN’s Sweetwater campus in Texas, with a capacity of 2 GW, which both companies expect to become the reference site for Nvidia’s DSX architecture. The infrastructure will serve AI-native clients, startups, and enterprise companies globally.
Just days before the Nvidia announcement, IREN had already acquired cloud infrastructure software company Mirantis in an all-stock deal worth $625 million, with the goal of expanding the capabilities of its AI cloud platform.
