Nvidia Drops $3.4B IREN AI Deal as TSMC Posts 18% Revenue Surge
Nvidia canceled a previously planned $3.4 billion AI infrastructure agreement with IREN while immediately forging a fresh data-center partnership, sending IREN shares up over 20%. TSMC reported 18% year-over-year revenue growth in Q1 on record AI-chip shipments, underpinned by robust orders from Nvidia and other cloud customers.
1. Nvidia Cancels $3.4B IREN AI Infrastructure Deal
Nvidia abruptly terminated a $3.4 billion AI infrastructure procurement contract with IREN, citing shifting priorities in its data-center roll-out. The cancellation surprised investors and drove IREN’s stock up over 20% on speculation of break-fees or renegotiation terms.
2. Nvidia Deepens AI Data-Center Push With New IREN Agreement
Immediately following the cancellation, Nvidia announced a revised collaboration with IREN to supply NVSwitch fabric and HGX server integrators, signaling a pivot to in-house platform integration. The alliance expands IREN’s role in Nvidia’s next-generation DGX systems and custom rack-scale architectures.
3. TSMC Posts 18% Q1 Revenue Growth on AI Chip Demand
TSMC’s Q1 revenue climbed 18% year-over-year to NT$638 billion, fueled by record orders for 5nm and 3nm wafers from Nvidia, AMD and major hyperscalers. Management cited sustained AI training workloads as the primary driver, forecasting another double-digit uptick in AI-related wafer bookings through mid-2026.