Nvidia Secures $2.1B Warrant in IREN Partnership to Build 5GW AI Infrastructure
Nvidia and IREN launched a partnership to deploy up to 5GW of DSX-aligned AI infrastructure in IREN’s global data center pipeline. IREN granted Nvidia a five-year warrant to buy up to 30 million shares at $70 each, equaling a $2.1B investment right.
1. Partnership Overview
Nvidia and IREN intend to support deployment of up to 5GW of Nvidia DSX-aligned AI infrastructure across IREN’s global data center pipeline, combining Nvidia’s accelerated compute solutions with IREN’s power and land assets. This collaboration targets large-scale AI factories to serve startup and enterprise customers.
2. Warrant Terms
Under the agreement, IREN issued Nvidia a five-year warrant to purchase up to 30 million ordinary shares at an exercise price of $70 per share, representing a potential $2.1B strategic investment. Conversion is subject to regulatory approvals and specific deployment milestones.
3. Strategic Implications
Future rollouts will prioritize IREN’s 2GW Sweetwater campus in Texas as a flagship site, leveraging integrated power, cooling, and networking to optimize DSX AI factory performance. The partnership underscores Nvidia’s strategy to scale AI infrastructure globally and expand its market leadership in high-performance accelerated computing.