Nvidia to Invest Up to $2.1 Billion in Data Center Firm IREN

Nvidia Corp. is investing as much as $2.1 billion in the data center developer IREN Ltd. as part of a broader partnership between the two companies aimed at accelerating the construction of artificial intelligence infrastructure.

IREN has agreed to issue Nvidia a five-year right to purchase as many as 30 million shares at an exercise price of $70, the companies said in a statement Thursday. They’re also working together to roll out billions of dollars in computing capacity.