IREN Stock Soars On Nvidia’s $2.1B AI Investment Deal, Accelerating Pivot From Bitcoin Mining

• The move builds on IREN’s aggressive GPU expansion, including its March 2026 order of more than 50,000 NVIDIA B300 GPUs that lifted its total fleet to 150,000 units.
• The announcement comes alongside IREN’s third-quarter earnings, where revenue and core profit reflected IREN’s shift from Bitcoin mining roots to becoming a major player in AI infrastructure. 
• Retail traders on Stocktwits cheered the partnership.

Shares of IREN Limited (IREN) jumped 21% in after-hours trading on Thursday, before paring some gains, after the AI-cloud and data-center operator announced a strategic partnership with NVIDIA (NVDA) that grants the chip giant significant equity rights and commits IREN to delivering up to 5 GW of next-generation AI infrastructure.

Under the agreement, NVIDIA will receive a five-year warrant to purchase up to 30 million IREN shares at $70 per share — a potential $2.1 billion investment — while IREN will deploy massive clusters of NVIDIA’s latest GPUs across its renewable-powered campuses in Texas and Canada.

“We are excited to partner with IREN to bring scalable, sustainable AI infrastructure to market at unprecedented speed,” NVIDIA CEO Jensen Huang said in a joint statement. IREN Co-Founder and Co-CEO Daniel Roberts added: “This partnership accelerates our transition to a full-stack AI cloud leader and gives us direct access to NVIDIA’s most advanced technology roadmap.”

The move builds on IREN’s aggressive GPU expansion, including its March 2026 order of more than 50,000 NVIDIA B300 GPUs that lifted its total fleet to 150,000 units, in addition to its existing multi-billion-dollar AI cloud contract with Microsoft. The moves underscore IREN’s rapid shift from Bitcoin mining roots to becoming a major player in AI infrastructure.

The announcement comes alongside IREN’s third-quarter earnings. Revenue totaled $144.8 million, compared to $184.7 million in the previous quarter. AI Cloud Services revenue in the three months through the end of March came in at $33.6 million, up from $17.3 million in the December quarter. Adjusted EBITDA fell 21% quarter-on-quarter to $59.5 million, largely due to non-cash impairments related to the ongoing decommissioning of Bitcoin mining hardware as the firm pivots toward higher-margin AI workloads.

How Did IREN Retail Traders React?

On Stocktwits, retail sentiment around IREN stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume increased from ‘high’ to ‘extremely high’ levels.

Meanwhile, sentiment around NVDA stayed within the ‘extremely bullish’ territory, coupled with ‘high’ retail chatter.  

A Stocktwits user cheered the deal, noting that they are positive on the long term.

Another user expects the stock to breach the three-digit mark by the end of this year.

IREN stock has gained nearly 765% over the past 12 months. 

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