Nvidia and IREN Limited announced a strategic partnership on Thursday to deploy up to 5 gigawatts of next-generation AI infrastructure using Nvidia's DSX architecture. The deal includes a $3.4 billion managed GPU cloud services agreement over five years for Nvidia's internal AI and research workloads. Additionally, Nvidia received a five-year option to purchase up to 30 million IREN shares at $70 per share, representing potential investment rights of $2.1 billion. IREN's stock surged in after-hours trading but later cooled after the company reported a quarterly earnings miss. IREN is simultaneously expanding its infrastructure footprint by acquiring Spain-based data center developer Ingenostrum, adding 490 megawatts of grid-connected power in Europe. This acquisition brings IREN's total power portfolio to 5 gigawatts, matching the planned Nvidia infrastructure deployment. The expanded capacity positions IREN to deliver on both the Nvidia partnership and existing commitments to other major tech companies, including a $9.7 billion deal with Microsoft announced in November 2025. For wallet and key holders in the crypto space, this deal signals a continuing trend of Bitcoin miners pivoting to AI compute services, leveraging their existing energy and data center infrastructure. While not directly related to crypto security, the scalability of such infrastructure deals may impact energy availability and costs for mining operations. However, no immediate security implications for private keys or wallet assets arise from this partnership.

Key facts

• Nvidia and IREN signed a $3.4B cloud services deal for AI infrastructure.
• Nvidia has a five-year option to buy up to 30M IREN shares at $70 each.
• IREN stock surged after-hours then fell after reporting a $247.8M net loss.
• IREN is acquiring a Spain-based data center developer for 490 MW capacity.
• IREN's total power portfolio now reaches 5 GW to support the Nvidia deal.

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