Nvidia invests $2.1 billion in IREN after Corning deal
Updated
Updated · Bloomberg · May 7
Nvidia invests $2.1 billion in IREN after Corning deal
7 articles · Updated · Bloomberg · May 7
The move comes a day after Nvidia struck a separate $500 million agreement with fiber-optic maker Corning.
Earlier reports said the IREN investment gives Nvidia rights to buy up to 30 million shares and supports a five-year partnership on up to 5 gigawatts of AI infrastructure.
IREN, expanding from bitcoin mining into AI data centres in Texas, has tied up major deals with Nvidia and Microsoft as demand for AI computing capacity grows.
With AI chips obsolete in years, is the $8 trillion infrastructure build-out a race to a dead end?
Will the AI boom's immense energy thirst break our power grids before it transforms our economy?
How IREN’s Vertically Integrated Model and NVIDIA Partnership Aim to Solve the Global AI Compute Bottleneck
Overview
In May 2026, IREN announced a transformative partnership with NVIDIA, including a $2.1 billion equity investment and a commitment to deliver 5 GW of AI infrastructure. This deal, supported by IREN's vertical integration of land, power, data centers, and hardware, addressed NVIDIA's scaling challenges and was catalyzed by major contracts with Microsoft and Dell. The announcement sparked a 21% surge in IREN's stock, reflecting strong investor confidence backed by $3.1 billion in annual recurring revenue and a solid $2.6 billion cash position. Central to this growth is the Sweetwater campus in Texas, targeting 2 GW capacity, which exemplifies IREN's phased, efficient build-out strategy. Together, the partnership tackles the global AI compute bottleneck and positions IREN as a competitive leader in the rapidly expanding AI infrastructure market.