IREN Shares Surge 13% After $3B Bond Financing and Nvidia AI Data Center Plan
IREN•IREN shares jumped 13% after announcing $3 billion in convertible bond financing and partnering with Nvidia to develop a 5GW AI data center platform. The company also acquired Mirantis for $625 million and secured a $1.6 billion Dell deal for Nvidia Blackwell AI systems supporting a $3.4 billion cloud contract.
1. Stock Rally and Financing
IREN shares surged 13% after the company announced $3 billion in convertible bond financing and a partnership with Nvidia to develop a 5-gigawatt AI data center platform. Investors responded positively to the move into AI infrastructure, boosting market valuation.
2. Strategic Acquisitions and Partnerships
The company closed a $625 million acquisition of Mirantis, expanding its software services and cloud capabilities. IREN also finalized a $1.6 billion supply deal with Dell for Nvidia Blackwell AI systems to support a $3.4 billion cloud contract, strengthening its hyperscale computing offerings.
3. AI Infrastructure Transformation
The strategic shift positions IREN as a provider of AI and high-performance computing infrastructure rather than a traditional Bitcoin miner. This transformation aligns with growing demand for AI data centers, potentially unlocking new revenue streams and enhancing long-term valuation.
