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Iren signs a $3.4 billion AI infrastructure agreement with Nvidia
CryptoWorld News reports that Iren announced a five-year, $3.4 billion AI cloud contract with Nvidia, planning to deploy up to 5 gigawatts of AI infrastructure. The agreement was disclosed in Iren’s fiscal year 2026 Q3 financial report released on May 7. Iren will support Nvidia’s internal AI and research workloads. This partnership will deploy Nvidia’s DSX architecture, with the first project located at the 2 GW Sweetwater campus in Texas. As part of the agreement, Nvidia has obtained a five-year subscription right to purchase up to 30 million shares of Iren common stock at $70 per share, representing a potential $2.1 billion equity investment if fully exercised. Iren co-founder and CEO Daniel Roberts stated that this collaboration combines Nvidia’s leadership in AI systems with Iren’s expertise in infrastructure operations. Iren’s stock rose 27% in after-hours trading following the announcement.