IREN Limited (IREN) surged 26% in after-hours trading after the computer software company announced two major developments: a partnership with NVIDIA (NVDA) to deploy advanced AI infrastructure and a separate deal to acquire Spain‑based data center developer Ingenostrum (Nostrum Group). Together, the moves significantly expand IREN’s global footprint and position the company as a fast-rising player in large‑scale AI compute.
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Forget margin or options. Here's how the pros trade IRENNVIDIA Partnership Targets Up to 5 GW of AI Infrastructure
In the first announcement, NVIDIA and IREN revealed a long‑term partnership to deploy up to 5 gigawatts of NVIDIA DSX‑aligned AI infrastructure across IREN’s global data center pipeline.
The collaboration pairs NVIDIA’s full‑stack accelerated computing platform with IREN’s expertise in power, land development, data center operations, and GPU deployment.
A major portion of the buildout will take place at IREN’s huge 2‑gigawatt Sweetwater campus in Texas. This site will act as the main showcase and primary deployment location for NVIDIA’s DSX AI factory design.
As part of the deal, IREN granted NVIDIA a five‑year right to purchase up to 30 million shares at $70 per share, a potential $2.1 billion investment, pending regulatory approvals.
IREN Expands Into Europe
In a second major announcement, IREN said it has agreed to acquire Ingenostrum, S.L. The deal marks IREN’s formal entry into Europe and expands its total power portfolio to 5 gigawatts. The acquisition adds 490 megawatts of secured, grid‑connected power in Spain and a strong development pipeline.
The deal also brings in Nostrum’s experienced local team across development, engineering, construction, and operations. This strengthens IREN’s ability to deliver large projects and support the global expansion of its AI Cloud platform.
Is IREN a Good Stock to Buy?
On Wall Street, IREN stock has a Strong Buy consensus rating from analysts. This is based on six Buys and one Hold issued over the past three months. The average IREN price target of $78.43 implies about 39% upside in the months ahead.
