IREN (IREN), an information middle operator targeted on AI cloud infrastructure, stated it agreed to purchase greater than 50,000 specialised processing chips from Nvidia (NVDA), increasing its capability by about 50%.
The B300 GPUs, or graphic processing items, will take the Sydney-based firm’s complete AI compute fleet to about 150,000 GPUs. A GPU is a specialised chip for performing giant numbers of parallel computations, enabling the coaching and operation of synthetic intelligence fashions at excessive velocity.
The corporate additionally filed for a possible at-the-market share sale of as much as $6 billion as half of its broader capital administration technique. The shares dropped 5% in pre-market buying and selling on Thursday as a consequence of potential dilution.
The extra {hardware} is anticipated to be deployed in phases by way of the second half of 2026 throughout the corporate’s air-cooled information facilities in Mackenzie, British Columbia, and Childress, Texas. As soon as absolutely deployed, the expanded fleet is projected to help greater than $3.7 billion in annualized AI cloud income, positioning IREN among the many bigger AI cloud infrastructure suppliers globally.
IREN stated it has secured about $9.3 billion in funding over the previous eight months by way of buyer prepayments, convertible notes, GPU leasing and financing preparations, with roughly $3.5 billion in extra capital expenditures anticipated for the brand new GPU deployments within the second half of 2026.
