Nvidia has a five-year right to purchase up to 30 million shares of Iren shares at $70 per share, for a total potential investment of $2.1 billion.

With the new funding, the neocloud plans to deploy up to five gigawatts of Nvidia-aligned AI infrastructure across Iren’s global data center pipeline "over time."

DSX is Nvidia's reference design, a guide to building data centers that support its latest CPU-GPU racks and Spectrum-X Ethernet networking and storage.

Iren this week announced the successful energization of its 1.4GW Sweetwater 1 data center site in Texas, with another 600MW underway at the nearby Sweetwater 2. The two facilities are expected "to serve as a flagship deployment for Nvidia’s DSX architecture," Nvidia said.

The company also announced it is set to acquire cloud infrastructure software provider Mirantis in a deal worth $625 million.

Nvidia CEO Jensen Huang said: “AI factories are becoming foundational infrastructure for the global economy. Deploying these systems at scale requires deep integration across the full stack — compute, networking, software, power, and operations. IREN brings the scale and infrastructure expertise to help accelerate the buildout of next-generation AI infrastructure globally. Together, we are building for the age of AI.”

Daniel Roberts, cofounder and co-CEO of Iren, added: “This partnership combines Nvidia’s AI systems and architecture leadership with Iren’s expertise across power, land, data centers, GPU deployment, and infrastructure operations. Together, we believe we can accelerate deployment of AI infrastructure and expand access to compute for AI-native and enterprise customers globally.”

Nvidia frequently invests in companies buying and deploying its hardware, including Nebius, Nscale, CoreWeave, Firmus, and Lambda. This week, it invested in Corning to increase the production of fiber optic cables.

This week, DCD published our latest neocloud supplement, featuring interviews with Iren, Nscale, NexGen Cloud, TensorWave, CoreWeave, Ori, and more. Read it for free today.