IREN surges on Nvidia's $2.1 bln AI investment

IREN

08/05/2026 11:54

** Data center operator IREN Ltd IREN.O shares jumping 7.8% in premarket trading to $61.30 after co announces Nvidia NVDA.O to invest up to $2.1 bln as part of a broader AI partnership between the two firms

** The tie-up unveiled late Thurs intended to accelerate deployment of large-scale AI factories; deal gives NVDA a five-year right to buy up to 30 mln IREN shares at $70/sh

** IREN, a "neocloud" firm that sells cloud services built on NVDA processors, signed a $9.7 bln cloud deal with Microsoft MSFT.O last year

** Through Thurs close, IREN stock has rallied 50.5% YTD, outperforming the Nasdaq's .IXIC 11% rise; stock still about 26% below its all-time intraday high of $76.87 reached on Nov 5, 2025

** Of 16 analysts covering the stock, 11 rate it "strong buy" or "buy", 4 "hold" and 1 "sell"; median PT $78.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))