IREN Partners with Nvidia for AI Infrastructure Expansion

Written by Emily J. Thompson, Senior Investment Analyst

Source: CNBC

Updated: 49 minutes ago

0mins

IREN-6.77%

NVDA+1.77%

GLW+0.46%

Should l Buy IREN?

Source: CNBC

Stock Surge: IREN shares rose 13% in after-hours trading on Thursday, reflecting strong market enthusiasm for the partnership with semiconductor giant Nvidia, indicating investor optimism about the company's growth potential.
Large-Scale Collaboration: Under the agreement, Nvidia and IREN will deploy up to 5 gigawatts of DSX-branded infrastructure designs aimed at powering AI workloads across global data centers, significantly enhancing IREN's competitiveness in the global data center market.
Equity Purchase Rights: IREN will grant Nvidia a five-year right to purchase up to 30 million shares of its ordinary stock at an exercise price of $70 per share, which not only provides potential capital inflow for IREN but also strengthens Nvidia's strategic investment confidence in the company.
Massive Investment Potential: Through this partnership, Nvidia has the right to invest $2.1 billion into IREN, which will provide robust support for IREN's technological upgrades and market expansion, further solidifying its position in the global data center industry.

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Analyst Views on IREN

Wall Street analysts forecast IREN stock price to rise

12 Analyst Rating

8 Buy

2 Hold

2 Sell

Moderate Buy

Current: 60.980

Low

39.00

Averages

80.40

High

136.00

Current: 60.980

Low

39.00

Averages

80.40

High

136.00

Cantor Fitzgerald

Overweight

downgrade

$82 -> $61

2026-04-09

Reason

Cantor Fitzgerald

Price Target

$82 -> $61

AI Analysis

2026-04-09

downgrade

Overweight

Reason

Cantor Fitzgerald lowered the firm's price target on Iren to $61 from $82 and keeps an Overweight rating on the shares. The firm believes the world is heading toward the proliferation of AI across nearly every business, sector, and economy and in that context it sees AI infrastructure as "an attractive place to invest," given that investors are somewhat agnostic to which AI app or AI model emerges victorious. The firm envisions a persistent supply/demand imbalance for the next five-plus years that caters to pricing remaining strong, the analyst tells investors.

Freedom Capital

Hold

initiated

$36

2026-04-01

Reason

Freedom Capital

Price Target

$36

2026-04-01

initiated

Hold

Reason

Freedom Capital initiated coverage of Iren with a Hold rating and $36 price target. Though the firm sees potential upside in the stock to $43 within the next two years as the company completely converts its crypto mining capacity to serving AI customers, that could be a lengthier process than has been promised and one that adds execution risk, the analyst tells investors. The firm prefers other covered names among neoclouds and their supporting companies, at least for now, the analyst added.

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About IREN

IREN Limited is an Australia-based company, which owns and operates data centers powered by 100% renewable energy. Its facilities are optimized for Bitcoin mining, artificial intelligence (AI) cloud services, and other power-dense compute. Its data center mining facilities are in Canal Flats, Mackenzie, Prince George and Childress. Bitcoin Mining provides security to the Bitcoin network. Al Cloud Services provides cloud compute to Al customers, approximately 1,896 NVIDIA H100 and H200 GPUs. Its Canal Flats facility is in the Canadian Rockies, 100 kilometers (km) from Cranbrook regional airport and 500km east of Vancouver. Its facility is in Prince George, the city in northern British Columbia, located 500 km north of Vancouver. Its facility is located in Childress County, Texas, over 250 miles northwest of Dallas and in close proximity to multiple wind and solar generating facilities in the region. Its Childress operations comprise 200 Mega Watt of operating data centers.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

IREN on Track to Expand to 480 MW by 2026 Amid Revenue Miss

38 minutes agoseekingalpha

Expansion Plans on Track: IREN is on track to expand its computing capacity to 480 MW by 2026, with an anticipated annual recurring revenue of $3.7 billion, indicating a successful strategic pivot towards AI cloud services.
Disappointing Financial Results: Despite an increase in AI cloud services revenue to $33.6 million, the total revenue for Q3 was $144.8 million, falling short of the $219.3 million analyst consensus, primarily due to declining bitcoin prices and the decommissioning of mining hardware.
Increased Net Loss: IREN reported a net loss of $247.8 million in Q3, up from $155.4 million in Q2, highlighting the financial pressures and market challenges faced during its transition.
Stock Price Surge: Following the announcement of a partnership with Nvidia to deploy AI infrastructure and an agreement to acquire a data center developer in Spain, IREN's stock jumped 8.9% in after-hours trading, reflecting market optimism about its growth potential.

IREN Signs $3.4 Billion AI Cloud Services Contract with NVIDIA

9 minutes agoNewsfilter

Large Contract Value: IREN has signed a five-year cloud services contract with NVIDIA valued at approximately $3.4 billion, highlighting IREN's strong market position in the AI infrastructure sector.
Deepening Technical Collaboration: Under the agreement, IREN will provide NVIDIA with managed GPU cloud services, including orchestration and cluster management software developed in collaboration with Mirantis, further solidifying their strategic partnership.
Data Center Expansion: The contract will be serviced by deploying approximately 60MW of air-cooled Blackwell platform systems within IREN's existing data centers in Childress, Texas, which is expected to significantly enhance IREN's service capabilities and market competitiveness.
Optimistic Market Outlook: IREN's Co-Founder and Co-CEO Daniel Roberts stated that this contract not only demonstrates IREN's ability to deliver fully managed cloud solutions but also indicates the company's potential and influence in the rapidly growing AI market.

Nvidia to Invest $2.1 Billion in Data Center Expansion

11 minutes agoNewsfilter

Massive Investment: Nvidia has announced an investment of up to $2.1 billion in data center operator IREN, demonstrating the company's strong confidence in the future market as it seeks to expand infrastructure to meet soaring AI demand.
Infrastructure Deployment: The partnership aims to deploy up to 5 gigawatts of infrastructure to address the surging demand for computing power in the AI sector, further solidifying Nvidia's leadership position in the high-performance computing market.
Surging Market Demand: As frontier model developers and Big Tech firms funnel billions into securing computing capacity, Nvidia's investment reflects the urgent need for AI computing resources, signaling rapid industry growth.
Strategic Partnership Significance: This investment not only strengthens Nvidia's collaboration with IREN but also promotes infrastructure development across the industry, facilitating the widespread application and innovative advancement of AI technologies.