By Marc Guberti
Publication Date: 2026-05-31 18:12:00
Iren (IREN 0.80%) has rallied by more than 45% year to date, and its recently announced deal with Nvidia (NVDA 1.00%) added to the momentum. The GPU leader will support Iren in deploying AI chips for up to 5 gigawatts of its data centers. That sets the stage for substantial revenue growth for Iren.
Image source: Getty Images.
The terms of the deal
Iren was already a heavy buyer of Nvidia’s processors, but this new strategic partnership gets the chipmaker more involved with Iren’s infrastructure. Iren will be able to align its AI data centers with Nvidia’s DSX design, and get those data centers up and running sooner.
Today’s Change
(-0.80%) $-0.51
Current Price
$63.54
Key Data Points
Market Cap
$23B
Day’s Range
$60.73 – $64.75
52wk Range
$8.31 – $76.87
Volume
50.3M
Avg Vol
41.4M
Gross Margin
19.13%
That’s a win for both companies. Accelerated time frames for deployments put Iren on course to generate higher annual recurring revenues sooner while giving Nvidia the ability to sell more chips.
As part of their deal, Nvidia also got the right to purchase up to 30 million Iren shares at $70 per share at any time over the next five years. That would amount to a $2.1 billion investment if Nvidia acts upon it, for a stake that would represent a little less than 10% of the company.
This isn’t the first time Nvidia has taken the equity route in a partnership with a neocloud company. It invested $2 billion in CoreWeave at $87.20 per share. That partnership also involves helping an AI data center…
