By CryptoProwl
Publication Date: 2026-05-08 02:20:00
IREN Limited (NASDAQ: $IREN) shares jumped in after-hours trading on Thursday after the company announced a new Nvidia (NASDAQ: $NVDA) partnership that gives its AI infrastructure pivot a much larger public-market signal.
The stock rose 27% to $72.28 after closing at $56.85, before pulling back to $69.45 at press time, still up more than 21%. The rally followed IREN’s disclosure of a five-gigawatt strategic partnership with Nvidia tied to the deployment of AI infrastructure across its global data center pipeline.
Under the agreement, IREN issued Nvidia a five-year right to purchase up to 30 million ordinary shares at $70 per share. If fully exercised, the right would represent up to $2.1 billion of potential investment, subject to conditions including regulatory limits.
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The partnership is expected to focus on Nvidia-aligned DSX AI factory infrastructure, with future deployments centred around IREN’s two-gigawatt Sweetwater campus in Texas. IREN also announced a separate five-year, $3.4 billion AI Cloud contract with Nvidia for air-cooled Blackwell GPUs, with deployment expected within 60 megawatts of existing data centers at Childress and a targeted ramp beginning in early 2027.
The update pushes IREN further away from the pure bitcoin-mining identity it carried when it operated as Iris Energy. Bitcoin still anchors the company’s current revenue…