By Simply Wall St
Publication Date: 2026-06-11 05:13:00
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IREN (NasdaqGS:IREN) has expanded its global data center development pipeline to 5.8 GW, signaling a much larger buildout of high-performance computing sites.
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The company has entered a multi year, $3.4b partnership with Nvidia to supply AI infrastructure, adding a major new customer relationship alongside its existing work with Microsoft.
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These moves indicate a deeper push into AI cloud infrastructure and a broader geographic footprint for IREN’s computing assets.
IREN’s share price sits at $51.52, after very large gains over the past year and a 7x move over three years, even as the stock is down 21.3% over the past week and 6.6% over the past month. Year to date, the stock is up 20.7%, and investors appear to have already reacted strongly to the company’s pivot toward AI infrastructure and high performance computing capacity.
The expanded 5.8 GW pipeline and $3.4b Nvidia agreement could reshape how you think about IREN, shifting the story from a niche player to a scaled AI data center platform with multiple large customers. The key questions now center on execution, capital needs, and how quickly new capacity can translate into contracted revenue across different regions.
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