Nvidia will pay data center developer IREN Ltd. The investment of up to $2.1 billion is part of a broader collaboration between the two companies to accelerate artificial intelligence (AI) infrastructure. IREN has agreed to grant Nvidia a five-year option to purchase up to 30 million shares at an exercise price of $70 per share, the companies said in a statement Thursday. The two parties will also jointly deploy billions of dollars worth of computing power.

As a leading manufacturer in the field of artificial intelligence processors, NVIDIA has reached multiple cooperations within the AI ​​ecosystem. Nvidia has invested in developers such as OpenAI and chip manufacturers such as Marvell Technology, aiming to promote overall industry growth.


As part of the collaboration, IREN announced the signing of a $3.4 billion AI cloud services contract with NVIDIA to acquire and deploy NVIDIA Blackwell processors. The two parties plan to gradually add up to 5 GW of NVIDIA infrastructure in the future.

The collaboration will focus primarily on the development of IREN's 2-GW Sweetwater campus in Texas. One gigawatt of electricity capacity can roughly power about 750,000 homes.

IREN shares rose about 10% to $62.50 after hours on Thursday; Nvidia shares were essentially flat.

The statement stated that NVIDIA and IREN plan to jointly deploy large-scale data centers, using NVIDIA's equipment and IREN's expertise in acquiring land, power and other construction elements to promote project construction.

On Thursday, IREN also agreed to acquire Spanish data center developer Ingenostrum to support its expansion plans.

Founded by Australian brothers Daniel and Will Roberts, IREN initially focused on Bitcoin mining and later shifted to AI computing. The company's original name was Iris Energy, and its stock price soared 285% last year and has risen 51% since 2026.

Microsoft signed an approximately US$9.7 billion agreement with IREN last year to purchase its AI computing power.

Nvidia has also invested in IREN competitors such as CoreWeave and Nebius Group NV.