IREN Ltd. (NASDAQ:IREN) stock soared after the company announced a partnership with NVIDIA Corp. (NASDAQ:NVDA) and reported third-quarter results after Thursday’s closing bell.  

Here's a look at the details.

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Nvidia Partnership Details

The companies plan to support the deployment of as much as 5 gigawatts of Nvidia DSX-aligned AI infrastructure across IREN's global data center pipeline over time, with the goal of expanding compute access for AI-native companies, startups and enterprise customers.

IREN granted Nvidia a five-year right to buy up to 30 million ordinary shares at $70 per share, giving Nvidia the ability to invest up to $2.1 billion, subject to regulatory and other conditions.

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