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Benzinga
Benzinga
Business
Adam Eckert

IREN Stock Is Rising Thursday: What's Going On?

IREN Blackwell Nvidia NVDA Nvidia Corp
Data CenterHardware,Cables,Connected,To,A,Internet,Network,Device,Technology,Closeup

IREN Limited (NASDAQ:IREN) shares are trading higher. The company on Thursday announced that it expanded its AI cloud through the purchase of thousands of Nvidia Corp (NASDAQ:NVDA) Blackwell GPUs.

What Happened: IREN said that it bought 2,400 Nvidia Blackwell GPUs, consisting of 1,300 B200 GPUs and 1,100 B300 GPUs, for approximately $130 million. The purchase will be fully funded with cash. The company noted that it’s evaluating financing options to support its AI cloud services growth.

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