NVIDIA to invest up to $2.1B in IREN AI infrastructure
Business
NVIDIA is putting up to $2.1 billion into IREN, a data center operator, to help build out the massive computing power needed for AI.
Together, they're planning up to 5 gigawatts of AI-focused infrastructure, including big projects at IREN's Texas campus, as demand for smarter tech keeps climbing.
IREN grants NVIDIA 5-year option
IREN gave NVIDIA a five-year option to buy up to 30 million shares at $70 each, and the news sent IREN's stock jumping 9%.
This deal comes as all four US tech giants are expected to spend over $700 billion on AI this year alone, showing just how fast the race for more powerful data centers is heating up.