en.Wedoany.com Reported - Australian data center developer IREN issued an official statement on May 7 local time, announcing a deep strategic partnership with U.S.-based NVIDIA. IREN agreed to grant NVIDIA a five-year subscription right, allowing it to purchase up to 30 million shares at an exercise price of $70 per share, with a potential total investment of up to $2.1 billion. Concurrently, the two parties signed a separate $3.4 billion AI cloud services contract, which will see IREN deploy NVIDIA's next-generation Blackwell processors and plans to progressively add up to 5 gigawatts of NVIDIA AI infrastructure in the future.
IREN CEO and Co-Founder Daniel Roberts likened the collaboration to landmark deals in cloud computing history in the official statement: "We believe this agreement is a landmark moment, signifying NVIDIA's confidence in our platform and further solidifying IREN's leadership in delivering large-scale, high-efficiency AI infrastructure. This is a turning point not just for IREN, but for the entire AI infrastructure industry."
The $2.1 billion equity investment NVIDIA secured is a long-term option arrangement. According to the statement, IREN granted NVIDIA a five-year subscription right, which can be extended for up to three more years by mutual agreement, potentially reaching a maximum term of eight years. NVIDIA can purchase up to 30 million IREN shares at an exercise price of $70 per share, subject to conditions including regulatory approvals. This exercise price represents a premium over IREN's recent share price levels, demonstrating mutual confidence in long-term future growth. This arrangement means NVIDIA is not making a one-time capital injection but is locking in an opportunity to deeply participate in IREN's growth under favorable terms in the future.
The execution roadmap for the $3.4 billion AI cloud services contract is clearer. Under the five-year contract, IREN will procure and deploy NVIDIA's Blackwell processors, covering air-cooled GPUs and supporting liquid-cooled data center facilities. IREN explicitly stated in the announcement that the contract will enable the company to provide NVIDIA accelerated computing infrastructure to customers and enterprises. Together, these two figures outline the scale and quality of the collaboration—$3.4 billion in committed revenue anchors medium-term cash flow, while the 5 GW vision points to the core bottleneck in the AI infrastructure race: large-scale power acquisition and data center delivery capability.
NVIDIA's capital deployment in infrastructure has been continuously intensifying during this period. On the same day it announced the investment in IREN, NVIDIA also signed a long-term cooperation agreement with Corning to jointly build a new advanced optics factory in the United States to support the growing demand for optical connectivity in AI data centers. Previously, NVIDIA had invested in emerging AI cloud service providers such as CoreWeave and Nebius. This series of moves indicates it is deeply integrating with upstream and downstream industry chains, shifting from solely providing high-performance GPUs to participating in and incubating the infrastructure platforms that supply computing power for AI models.
IREN is completing a systematic migration from a cryptocurrency mining enterprise to an AI infrastructure platform. The company, formerly known as Iris Energy, was co-founded by Daniel Roberts in 2018, headquartered in Sydney, Australia, with primary operations in North America and Europe. In early 2024, the company officially rebranded as IREN, divested most of its Bitcoin mining rig deployments, and shifted its strategic focus entirely to AI cloud services. IREN's latest announcement disclosed that its total operational data center capacity has reached 810 MW, with 2,100 MW under construction and 1,600 MW in development, having secured over 4.5 GW of grid-connected power agreements. This strategic collaboration with NVIDIA elevates the total cooperation scale to 5 GW, further establishing its position among the new forces in AI infrastructure.
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