IREN (IREN) Stock Rockets 27% Following Major Nvidia Deal and Spain Acquisition
IREN Limited, IREN The company unveiled a strategic alliance with Nvidia (NVDA) focused on rolling out up to 5 gigawatts of AI-focused infrastructure. Concurrently, IREN disclosed plans to purchase Ingenostrum, a data center development firm based in Spain, alternatively known as Nostrum Group. Prior to these announcements, IREN shares were hovering near $56. The after-hours surge drove the stock substantially higher, demonstrating strong investor enthusiasm for both initiatives. The collaboration with Nvidia revolves around implementing Nvidia‘s DSX-optimized accelerated computing infrastructure throughout IREN’s worldwide data center network. The partnership encompasses compute resources, networking systems, software platforms, power management, and operational coordination. A significant portion of this development will take place at IREN‘s Sweetwater facility in West Texas. With a total capacity of 2 gigawatts, this location is positioned to become the flagship demonstration site for Nvidia’s DSX AI factory architecture. Jensen Huang, Nvidias founder and CEO, emphasized that AI factories are emerging as critical infrastructure for the worldwide economy, noting that IREN possesses both the scale and technical capability required to expedite this expansion. Under the agreements terms, IREN provided Nvidia with a five-year warrant to acquire up to 30 million IREN shares priced at $70 each. This amounts to a potential $2.1 billion commitment, contingent upon