It seems that IREN has formed a major partnership with NVIDIA. They plan to deploy up to 5 gigawatts of AI infrastructure and have granted NVIDIA warrants for 30 million shares. Since each share can be exercised at $70, if all are exercised, it would amount to $2.1 billion.



Right after this news was announced, IREN's stock price jumped over 25% in after-hours trading, surpassing $71. It looks like investors related to NVIDIA reacted positively. They probably see expansion in the data center business and rising AI demand as key drivers.

The main base is expected to be a 2-gigawatt campus in Sweetwater, Texas. Based on the movement in after-hours stock prices, the market seems to view this NVIDIA collaboration as very positive news.
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