Nvidia to invest 2.1 billion dollars in IREN for AI
Nvidia will invest 2.1 billion dollars in IREN to deploy 5 gigawatts of AI infrastructure. The deal includes share purchase rights to accelerate factory growth.
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NVIDIA CORP will invest up to $2.1 billion in IREN LTD to deploy 5 gigawatts of artificial intelligence infrastructure. The partnership accelerates large-scale AI factory deployment. Big Tech AI spending is projected to exceed $700 billion this year.
IREN shares rose 9% in extended trading following the announcement on Thursday. The stock had previously closed at $56.85 in regular hours. Under the agreement, IREN issued NVIDIA a five-year right to purchase up to 30 million shares at an exercise price of $70 per share.
