Mentioned:
IREN -12.12% NVDA -6.20%

IREN is deepening their bet on artificial intelligence workloads. And they’re investing more than half a billion dollars to do it.

What’s happening:

  • IREN (NASDAQ: IREN) has acquired 12,400 new Nvidia (NASDAQ: NVDA) GPUs

By the numbers:‍

  • IREN purchased 7,100 B300s, 4,200 B200s and 1,100 AMD MI350Xs
  • In total IREN paid roughly $674M USD to buy all 12,400 GPUs

Why it matters:‍

  • The new purchase doubles the total capacity of GPUs that will be fully deployed and hosted at IREN’s data centres

Going deeper:‍

  • IREN has publicly stated they are now expecting to do more than half a billion dollars in annualized revenue from artificial intelligence and high performance computing once the Newley purchased GPUs are fully deployed
  • IREN just recently made waves when they generated a total of $187.4M USD  in quarterly revenue between their cloud computing business and their Bitcoin mining operations, which was the single largest quarter of revenue in IREN’s history

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