I just saw some good news: IREN’s stock price surged more than 25% after Thursday’s close, breaking above $71, and this rally is quite strong.

It turns out that IREN and NVIDIA have announced a strategic partnership. The company used to be involved in Bitcoin mining, but has now shifted to AI infrastructure, and NVIDIA has seen potential in them. The two sides plan to deploy up to 5 gigawatts of AI infrastructure across IREN’s global data center network, mainly serving AI startups and enterprise customers.

A highlight of the cooperation is that NVIDIA has given IREN a five-year warrant, which allows it to purchase up to 30 million shares at $70 per share—amounting to $2.1 billion in total when converted. This kind of tightly linked arrangement also reflects NVIDIA’s confidence in IREN’s future stock price.

NVIDIA CEO Jensen Huang also specifically emphasized that AI factories are becoming foundational infrastructure for the global economy, and large-scale deployment requires end-to-end, deep-level integration. In the future, the flagship project will be located at IREN’s Sweetwater campus in Texas, where there is a capacity of 2 gigawatts.

Judging by IREN’s stock price reaction, the market still recognizes this partnership. By combining NVIDIA’s advantages in AI systems with IREN’s experience in power, land, and data center operations, this pairing really does have room for imagination. However, whether IREN’s stock price can keep rising will depend on the progress of subsequent real-world deployments.