IREN Limited’s stock reacted strongly to two corporate moves that expand the company’s role in AI infrastructure and its geographic footprint. The company said it has entered into a strategic partnership with NVIDIA to deploy up to 5 gigawatts of AI infrastructure, and separately reached an agreement to acquire a Spain-based data center developer.
Under the collaboration with NVIDIA, the two companies will work together to install NVIDIA accelerated compute in DSX AI factories, aiming to broaden access to AI-native platforms for startups and enterprise customers. As part of the arrangement, IREN granted NVIDIA a five-year right to acquire as many as 30 million shares of IREN at a price of $70 per share. If fully exercised, that option would represent a potential $2.1 billion infusion, though the investment is contingent on certain conditions, including regulatory approvals.
IREN and NVIDIA identified IREN’s 2-gigawatt Sweetwater campus in Texas as a likely flagship site for early DSX architecture deployments. Company statements described the campus as a focal point for future builds under the partnership.
In remarks included with the announcement, NVIDIA founder and CEO Jensen Huang said, "AI factories are becoming foundational infrastructure for the global economy. Deploying these systems at scale requires deep integration across the full stack - compute, networking, software, power and operations. IREN brings the scale and infrastructure expertise to help accelerate the buildout of next-generation AI infrastructure globally."
Separately, IREN disclosed an agreement to acquire Ingenostrum, S.L., described as its entry into the European market. The transaction brings roughly 490 megawatts of secured, grid-connected power located in Spain and, according to IREN, increases the company’s total power portfolio to 5 gigawatts. The acquisition is subject to customary closing conditions.
The combination of a strategic technology partnership and a European acquisition prompted a marked market response, with IREN shares rising sharply on the news. The announcements tie together an accelerated AI infrastructure deployment plan with a simultaneous expansion of secured power assets in Europe.