NVIDIA and IREN partner to roll out DSX AI factories as NVIDIA gains five‑year option to buy up to $2.1B of IREN stock

NVIDIA and IREN announced a strategic partnership to accelerate deployment of DSX-aligned AI infrastructure and to expand access to large — scale accelerated compute. As part of the agreement, IREN granted NVIDIA a five‑year right to purchase up to 30 million ordinary shares at an exercise price of $70 per share, providing NVIDIA the ability to invest up to $2.1 billion if exercised, subject to certain conditions and regulatory approvals. The financing option is tied to the broader infrastructure collaboration rather than representing an immediate equity transfer.

Under the arrangement, the companies intend to support deployment of up to 5 gigawatts of NVIDIA DSX‑aligned AI infrastructure across IREN’s global data center pipeline over time. Deployments will center on NVIDIA‑accelerated compute installed in DSX AI factories, a reference architecture that integrates systems, networking and software to serve AI workloads at scale. The plan is explicitly aimed at increasing access to NVIDIA‑accelerated compute for AI‑native organizations as well as startup and enterprise customers.

The purchase right is framed as a financing mechanism to underpin the infrastructure rollout: it gives NVIDIA an option to provide capital tied to the collaboration rather than an immediate change in ownership. Any exercise of the option will be subject to the conditions set out in the agreement, including required regulatory approvals, and is contingent on the parties’ deployment plans and timelines.

IREN’s operational footprint and project pipeline are the basis for the rollout strategy. The partnership combines NVIDIA’s DSX AI factory architecture with IREN’s capabilities across power, land, data centers, GPU deployment and infrastructure operations, with the companies presenting this operational integration as central to delivering large‑scale, highly integrated AI sites. Coordinating power provisioning, cooling and data center operations with system‑level AI designs is described as a key element of the approach.

Initial deployments are expected to focus on IREN’s Sweetwater campus in Texas, a 2‑gigawatt site the companies expect to serve as a flagship DSX deployment. Positioning Sweetwater as an early multi‑gigawatt site signals an intent to validate the DSX factory model at scale and to create a reference deployment for subsequent locations within IREN’s pipeline and for customers seeking large blocks of AI‑optimized capacity.

Company statements characterized the collaboration as strategic for accelerating global AI factory buildout. NVIDIA CEO Jensen Huang emphasized the need for deep integration across the full stack — compute, networking, software, power and operations — to deploy AI factories at scale, while IREN cofounder and co‑CEO Daniel Roberts said the collaboration pairs NVIDIA’s system leadership with IREN’s infrastructure expertise to speed deployments for AI‑native and enterprise customers alike. If realized, the structure could broaden access to large blocks of GPU capacity for startups and enterprises and help validate a repeatable model for multi‑gigawatt AI sites.