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IREN signs new AI cloud contracts with Blackwell GPU deployments By Investing.com
IREN Limited has signed multi-year AI cloud contracts for NVIDIA Blackwell GPU deployments, significantly boosting its stock value by 591% over the past year.
- IREN Limited (NASDAQ:IREN) announced the signing of additional multi-year contracts with AI companies for cloud services utilizing NVIDIA's Blackwell GPUs on Tuesday.
- The company's stock has surged by 591% in the past year, reflecting strong investor confidence in IREN's focus on cloud computing and AI technologies.
- These new contracts highlight the growing demand for advanced graphics processing units in data centers, particularly for applications in artificial intelligence and cryptocurrency mining.
Why It Matters
The partnership between IREN and AI companies underscores the increasing reliance on cloud computing for AI applications, which is pivotal in enhancing computational capabilities and efficiency in various sectors. This trend not only boosts IREN's market position but also aligns with the broader evolution of technology in data processing and artificial intelligence.