IREN Stock: AI Cloud Expansion with Massive Nvidia and AMD GPU Purchase
Big news has emerged in the tech world that could prove to be a game-changer for both the AI and crypto mining industries. Data center operator and bitcoin miner IREN Limited (NASDAQ:IREN) has announced that it has purchased approximately $670 million worth of Nvidia and AMD GPUs. This move is aimed at accelerating the company’s AI Cloud growth, and now all attention is on IREN stock.
IREN Stock Doubles GPU Capacity
IREN said in an official statement that it purchased 7,100 Nvidia B300 GPUs, 4,200 Nvidia B200 GPUs, and 1,100 AMD MI350X GPUs. The total value of this major deal reached $674M, bringing the company’s total GPU capacity to approximately 23,000. These deliveries will be received stage-wise at the company’s Prince George campus in British Columbia, Canada, over the coming months. The company aims to exceed $500M in annual recurring revenue from its AI Cloud by Q1 2026.
IREN Stock and CEO Daniel Roberts’ Vision
IREN co-founder and CEO Daniel Roberts said, “Global demand for compute is rapidly accelerating, and customers are looking for partners who can deliver scale quickly. Doubling our GPU fleet in just a few months showcases our strength and the capability of our vertically integrated platform.” This statement clearly shows that IREN is working aggressively to establish a strong position in the AI Cloud market.
Market Reaction to IREN Stock Announcement
The market also reacted immediately after the announcement. Shares of Nvidia and AMD fell approximately 0.5% in premarket trading, while IREN stock was down 0.8%. But as soon as trading opened, retail investor sentiment turned bullish, and IREN stock surged 10%. This clearly indicates that the market is viewing IREN’s AI-focused expansion as a major growth driver.
IREN Stock Boosts AI Cloud with $674M Investment
The company announced that it acquired an additional 12,400 GPUs on Monday, including Nvidia’s B200 and B300 series, as well as AMD MI350Xs. This investment is a continuation of IREN’s August expansion plan, when it announced a $193M investment to scale its AI Cloud business. This trend marks a new direction for crypto miners, where they are focusing on high-performance AI computing alongside traditional Bitcoin mining.
IREN Stock’s Strength with Nvidia and AMD GPUs
IREN stated that combining Nvidia and AMD GPUs further enhances the strength of its AI infrastructure and expands its addressable market. Demand for pre-emptive AI cloud capacity is growing among customers, and the company believes it is “well-positioned” to meet this demand. IREN’s capabilities at its British Columbia campus are so robust that it can support over 60,000 Blackwell GPUs.
IREN Stock Expands Data Centers Across North America
IREN has AI data center campuses not only in Prince George, but also in Mackenzie and Canal Flats, Canada. In the U.S., the company also operates three large-scale sites in West Texas. This clearly demonstrates IREN’s aggressive expansion of its AI Cloud business in North America.
IREN Stock AI Cloud Fleet Details
The company’s AI Cloud fleet now consists of approximately 23,000 GPUs, including 1,900 Nvidia H100s and H200s, 19,100 Nvidia B200s and B300s, 1,200 GB300s, and 1,100 AMD MI350Xs. Financing arrangements have also been set to ensure these GPU deployments do not impact mining activities. The company has a total of 2.91 GW of grid-connected power in the U.S. and Canada, with 810 MW of operating data-center capacity and the potential for multi-gigawatt expansion in the future.
IREN Stock Rallies After Earnings Beat
This update comes after IREN impressed investors with its August earnings report, which subsequently led to a meteoric rally in its stock. IREN now has a market cap of over $10.5 billion, making it the world’s largest publicly traded bitcoin miner. However, with its aggressive pivot to AI Cloud, IREN stock is now being viewed not just from a crypto perspective but also as an AI growth story.
Future Outlook of IREN Stock
AI demand is expected to accelerate in the coming days, and if IREN successfully executes its ambitious GPU deployment plans, achieving its $500M annualized revenue target will be easy. The biggest takeaway for investors right now is that IREN stock is on a growth curve where the combination of AI and crypto could create long-term upside for the company.
Disclaimer:
The views and recommendations above are those of individual analysts or brokerage companies, not US News Weeks. We advise investors to check with certified experts before making any investment decisions.
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