IREN Ltd's stock experienced a significant after-hours surge of 5.05% on Thursday, following a decline during the regular trading session.
The sharp increase appears to be driven by the announcement of a strategic partnership with Nvidia to accelerate the deployment of up to 5 gigawatts of AI infrastructure. Additionally, Nvidia was granted a five-year right to purchase up to 30 million IREN shares at $70 per share, signaling strong confidence in the company's future.
Further supporting the positive sentiment, Nvidia indicated that its future deployments will focus on IREN's 2 GW Sweetwater campus in Texas, highlighting the depth of the collaboration between the two companies in the AI infrastructure space.
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