(Investorideas.com Newswire) A trusted platform for investment ideas, including AI and tech stocks, issues a news and trading alert for IREN Limited (Nasdaq: IREN).
The stock is trending up after news of a big contract with NVIDIA, currently trading at 61.03 +4.19, up over 7% on volume of over 53 million shares.
IREN is a vertically integrated AI cloud provider, providing large-scale data centers and GPU clusters for AI training and inference. IREN’s platform is based on its extensive portfolio of grid-connected land and power in renewable rich regions in North America, Europe and APAC.
Investors are bullish on the sector as major hyperscalers and enterprise AI model builders are aggressively locking in multi-year contracts for cloud capacity and server infrastructure. Akamai Technologies recently announced a major infrastructure deal worth $1.8 billion with a leading frontier AI model provider.
IREN today announced that it has signed a five-year AI infrastructure cloud services contract with NVIDIA.
Under the agreement, IREN will provide NVIDIA access to managed GPU cloud services for its internal AI and research workloads, including orchestration and cluster management software in collaboration with Mirantis.
The agreement will be powered by air-cooled Blackwell Platform systems, which will be deployed within approximately 60 MW of existing data centers at IREN’s Childress, Texas campus.
The total value of the five-year contract is approximately $3.4 billion.
Daniel Roberts, co-founder and co-CEO of IREN, commented:
“We are excited to further strengthen our partnership with NVIDIA through this agreement.
This contract demonstrates our ability to provide not just bare metal, but fully managed cloud solutions to a broad and growing customer base.
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