IREN Ltd's stock soared 5.08% during intraday trading on Thursday, continuing its positive momentum from recent transformative announcements.
The surge follows IREN's strategic partnership with NVIDIA for 5GW of capacity, coupled with NVIDIA's $2.1 billion investment in the company. Additionally, IREN has announced plans to acquire Spanish data center developer Ingenostrum (Nostrum Group) and has energized its Sweetwater 1 facility, a 1.4GW data center connected to the Texas ERCOT grid.
These developments have boosted IREN's signed Annual Recurring Revenue (ARR) to $3.1 billion, with a target of reaching $3.7 billion by year-end. Analysts note that the long-term agreement with NVIDIA grants IREN critical credibility in AI infrastructure and strengthens its access to next-generation GPU supply, positioning the company as a key player in large-scale AI compute infrastructure development.
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