IREN stock surges after expanding AI cloud with 2.4k NVIDIA GPUs

Investing.com -- IREN Limited (NASDAQ:IREN) stock rose 15% after announcing the purchase of 2,400 next-generation NVIDIA (NASDAQ:NVDA) Blackwell GPUs for approximately $130 million, including fit-out costs. The company said the investment is fully funded from existing cash.

The order includes 1,300 B200 and 1,100 B300 GPUs that will be installed at IREN’s Prince George, British Columbia campus over the coming months. This expansion increases IREN’s total GPU fleet to approximately 4,300 NVIDIA GPUs when combined with its existing 1,900 Hopper GPUs.

IREN noted that its Prince George facility, with 50MW of dedicated power, can ultimately host more than 20,000 Blackwell GPUs, providing a clear runway for phased growth. The company is also evaluating various financing alternatives to support its AI Cloud Services growth.

"This investment is compelling on two fronts: strong near-term economics and meaningful strategic positioning," said Daniel Roberts, Co-CEO of IREN. "Expanding our Blackwell footprint not only enables us to meet current customer demand, it also supports the broader infrastructure conversations driving our next phase of growth."

The company highlighted that the Blackwell architecture delivers significant advancements in performance and efficiency, positioning IREN among the first cloud providers to offer next-generation compute in a supply-constrained market. The firm expects the deployment to deliver attractive risk-adjusted returns while supporting active discussions across its AI Data Center business.

IREN’s vertically integrated platform is supported by 2,910 MW of grid-connected power, enabling it to offer various solutions including powered shells, build-to-suit options, turnkey colocation, and fully managed cloud services.

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