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IREN Stock Jumps as Nvidia Backs AI Expansion With Warrants Linked to 30 Million Shares

IREN says it partnered with Nvidia to deploy up to 5 gigawatts of DSX AI infrastructure, with the initial rollout centered on its 2 GW Sweetwater data center site in Texas.

Fact Check
All key elements of the claim are directly corroborated by authoritative sources. The Block's May 7, 2026 article confirms: (1) the Nvidia-IREN strategic partnership, (2) deployment of up to 5 GW of DSX AI infrastructure, (3) Nvidia warrants tied to 30 million IREN shares, and (4) the 2 GW Sweetwater data center in Texas as the initial rollout site. The article cites an official Nvidia press release as its primary source. IREN's own homepage independently confirms the Sweetwater site as a 2,000 MW facility in Texas. CNBC also reported the deal on the same date. No conflicting evidence was found. The minor residual uncertainty (4%) reflects the inability to directly fetch the Nvidia press release URL due to tool limits.
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Summary

IREN expanded the scope of its previously reported Nvidia-backed AI initiative by disclosing a partnership to deploy up to 5 gigawatts of DSX AI infrastructure across its global data center network. The deal includes warrants allowing Nvidia to buy up to 30 million IREN shares at $70 over five years, which would be worth $2.1 billion if fully exercised. Initial deployment is set to focus on IREN’s 2 GW Sweetwater site in Texas, adding concrete scale, location, and pricing details to the arrangement that had already lifted IREN shares.

Terms & Concepts
  • Warrants: Securities that give the holder the right to buy a company’s shares at a predetermined price within a set time period.
  • DSX AI infrastructure: AI-focused data center and computing infrastructure designed to support large-scale artificial intelligence workloads.