IREN deepens AI push with 50,000 Nvidia GPU order; shares fall on at-the-market offering
IREN ordered over 50,000 Nvidia GPUs to expand AI capacity by 50% while filing for a potential $6 billion at-the-market share sale.Summary
Data center operator IREN, focused on AI cloud infrastructure, announced an agreement to purchase more than 50,000 Nvidia B300 GPUs, which will increase its total AI compute fleet to approximately 150,000 GPUs, expanding capacity by about 50%. Concurrently, the company filed for a potential at-the-market share sale of up to $6 billion as part of its capital management strategy, causing its stock to drop 5% in pre-market trading due to anticipated dilution. The new hardware is scheduled for phased deployment across its air-cooled data centers in British Columbia and Texas through the second half of 2026. Upon full deployment, this expanded capacity is projected to generate over $3.7 billion in annualized AI cloud revenue, positioning IREN as a major global AI cloud infrastructure provider. IREN has secured about $9.3 billion in funding recently and anticipates an additional $3.5 billion in capital expenditures for these GPU deployments.
(Source：CoinDesk)