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Barchart
Barchart
Yiannis Zourmpanos

150,000 Reasons to Buy IREN Stock Here

IREN

The race to deploy artificial intelligence infrastructure is heating up, and the companies that can secure computing capacity are the winners. One such company is IREN (IREN), which saw its shares soar after it announced that it had entered into a massive deal to procure GPUs that will increase its AI computing capacity significantly.

The company announced that it had entered into a deal to procure 50,000 units of the Nvidia (NVDA) B300 series of GPUs. This will increase its total computing capacity to over 150,000 GPUs. A significant development in an environment in which the demand for computing capacity continues to outstrip the available supply. This is a significant development for the company, which is a major player in the AI cloud infrastructure space. The company’s shares soared by nearly 13% after the announcement, reflecting the increased interest in companies that are building the infrastructure that will support the development of artificial intelligence systems.

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