To The Moon

IREN has officially partnered with Nvidia, signing a massive $3.4 billion AI cloud agreement over the next five years as part of a broader 5GW strategic collaboration.

I’m not heavily invested in $IREN, but at around $43, the amount of negativity around the stock seemed overdone considering they still operate as a serious neocloud player with valuable compute capacity in a market where demand for compute continues to outpace supply.

This announcement may not be a blockbuster hyperscaler deal, but overall it feels undeniably bullish. While no one knows whether the stock can comfortably hold the $70 range after the initial after-hours surge, the key detail here is Nvidia securing the option to purchase 30 million shares at $70 each.

That alone sends a strong message.

Nvidia is essentially signaling that they see $IREN as being worth at least that valuation long term. What’s even more interesting is Nvidia hasn’t directly invested yet, unlike what they previously did with $CRWV and $NBIS.

For now, they’re holding back on a direct equity investment, but agreeing to buy shares at $70 while simultaneously signing a major cloud contract speaks volumes. It’s a clear vote of confidence in IREN’s future potential.

This may not be the company’s biggest compute deal yet, but it definitely feels like a strong step toward something much larger ahead.

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