IREN and semiconductor giant Nvidia proclaimed a deal to deploy up to 5 gigawatts of the chip maker’s DSX-branded infrastructure designs.

The data center operator will issue Nvidia a five-year right to purchase up to 30 million shares of its ordinary stock at an exercise price of $70 per share.

Nvidia has done similar deals involving multibillion-dollar purchase agreements with companies like Coherent, Lumentum and Corning.

IREN shares surged in extended-trading on Thursday before giving back nearly all of the gains after the data center operator published a partnership with semiconductor giant Nvidia.

Nvidia and IREN will deploy up to 5 gigawatts of the chip maker’s DSX-branded infrastructure designs intended to power artificial intelligence workloads throughout the Australian firm’s data center facilities across the globe.

The data center operator will issue Nvidia a five-year right to purchase up to 30 million shares of its ordinary stock at an exercise price of $70 per share, the firm commented in an announcement. Nvidia will have the right to invest $2.1 billion into the firm via the deal. This also touches on aspects of portfolio.

“AI factories are becoming foundational infrastructure for the global economy,” Nvidia CEO Jensen Huang commented in a statement. “Deploying these systems at scale requires deep integration across the full stack — compute, networking, software, power and operations.”

Nvidia has bolstered its stack by making similar deals involving multibillion-dollar purchase agreements with companies like Coherent, Lumentum and earlier this week, Corning.

In a separate release, IREN stated it signed a five-year deal worth $3.4 billion to provide Nvidia with access to managed GPU cloud services “for its internal AI and research workloads.” The deployment will be at IREN’s existing data centers in Childress, Texas.

Although IREN previously specialized in data centers that were tailored for bitcoin mining, it’s been increasingly providing AI-related infrastructure services as part of the AI boom.

In Nov. 2025, IREN and Microsoft inked a multi-year $9.7 billion deal “to deliver GPU cloud infrastructure powered by NVIDIA GB300 GPUs” at its Childress, Texas. data center, the corporation mentioned at the time. As part of that deal, IREN remarked it also “entered into an agreement” with Dell Technologies to purchase the GPUs and related computing gear for roughly $5.8 billion.

WATCH: AMD’s CPU story is increasingly looking real and growth story is plausible.