IREN

$IREN(IREN.US) | JPMorgan 𝘂𝗽𝗴𝗿𝗮𝗱𝗲𝘀 𝗜𝗥𝗘𝗡 𝗟𝗶𝗺𝗶𝘁𝗲𝗱 from Underweight to 𝗢𝘃𝗲𝗿𝘄𝗲𝗶𝗴𝗵𝘁, raises PT to $𝟲𝟱 from $𝟰𝟲

Analyst sees IREN becoming a top-tier neocloud provider as customer momentum, pricing, and expected ARR improve.

📢 𝗝𝗨𝗦𝗧 𝗜𝗡: NVIDIA and Australian Partners Plan Up to 2-Gigawatt AI Infrastructure Buildout by 2027 - $NVIDIA(NVDA.US) $IREN(IREN.US) $SharonAI(SHAZ.US)

👉 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀:

➤ 𝗡𝗩𝗜𝗗𝗜𝗔 partners with Australian providers for up to 𝟮-𝗴𝗶𝗴𝗮𝘄𝗮𝘁𝘁 AI buildout.

➤ Expansion targets multiple generations of 𝗡𝗩𝗜𝗗𝗜𝗔 𝗗𝗦𝗫 AI factories.

➤ Up to 𝟮 𝗚𝗪 of infrastructure capacity is planned by 𝟮𝟬𝟮𝟳.

➤ Partners include 𝗙𝗶𝗿𝗺𝘂𝘀, 𝗦𝗵𝗮𝗿𝗼𝗻 𝗔𝗜, 𝗜𝗥𝗘𝗡, 𝗖𝗗𝗖, 𝗡𝗘𝗫𝗧𝗗𝗖 and 𝗔𝗶𝗿𝗧𝗿𝘂𝗻𝗸.

➤ 𝗦𝗵𝗮𝗿𝗼𝗻 𝗔𝗜 plans deployment of up to 𝟲𝟴,𝟬𝟬𝟬 NVIDIA GPUs.

➤ 𝗜𝗥𝗘𝗡 highlights its 𝟴𝟬𝟬-𝗺𝗲𝗴𝗮𝘄𝗮𝘁𝘁 Bundey campus in South Australia.

➤ 𝗖𝗗𝗖 has over 𝟱𝟱𝟬 𝗠𝗪 operating and 𝟴𝟬𝟬 𝗠𝗪 under construction.

➤ Expanded capacity targets startups, enterprises, universities, researchers and AI-native companies.

➤ 𝗛𝗲𝗶𝗱𝗶 and 𝗔𝘁𝗹𝗮𝘀𝘀𝗶𝗮𝗻 are building with NVIDIA's Nemotron ecosystem.

👉 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀:

➤ A 𝟮-𝗚𝗪 buildout could significantly expand Australia's domestic AI computing capacity.

➤ Supports 𝗡𝗩𝗜𝗗𝗜𝗔 demand across compute, networking, software and AI models.

➤ Strengthens Australia's ability to build and deploy 𝘀𝗼𝘃𝗲𝗿𝗲𝗶𝗴𝗻 𝗔𝗜 locally.

➤ Creates infrastructure supporting future 𝗔𝗜 training, inference and agent workloads.

➤ Deepens NVIDIA's role across Australia's expanding 𝗔𝗜 𝗶𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 ecosystem.

👉 𝗘𝘅𝗽𝗲𝗿𝘁 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁𝘀:

𝗥𝗮𝗷 𝗠𝗶𝗿𝗽𝘂𝗿𝗶, Vice President of Global AI Clouds and Infrastructure Ecosystem at NVIDIA:

“AI factories turn energy into intelligence — the essential resource of the AI economy,” said Raj Mirpuri, vice president of global AI clouds and infrastructure ecosystem at NVIDIA. “NVIDIA DSX is a full-stack platform compatible with the CUDA ecosystem and enhanced through software over the life of the infrastructure, making AI factories more productive, fungible and durable — and a new investable asset class. Through our partnerships with Australian NCPs, this infrastructure can support multiple generations of NVIDIA compute and expand local access to accelerated computing and NVIDIA Nemotron open models, helping Australian innovators build AI at home.”

𝗢𝗹𝗶𝘃𝗲𝗿 𝗖𝘂𝗿𝘁𝗶𝘀, Cofounder and Co-CEO of Firmus:

“Project Southgate represents a tangible commitment to building Australia’s AI future,” said Oliver Curtis, cofounder and co-CEO of Firmus. “Together with NVIDIA, we are developing AI factories that will give Australian businesses, researchers and innovators access to world-class computing capacity at home, while positioning Australia to meet growing AI demand across Asia-Pacific.”

𝗝𝗮𝗺𝗲𝘀 𝗠𝗮𝗻𝗻𝗶𝗻𝗴, Cofounder and CEO of Sharon AI:

“Australia has the energy, connectivity and ambition to lead in AI. That potential only becomes real capability when organizations can access world-class compute without compromising on security or sovereignty,” said James Manning, cofounder and CEO of Sharon AI. “By building on NVIDIA’s DSX platform, Sharon AI is equipped to bring gigawatt-scale AI factories to Australian enterprises, researchers, government and AI natives. With the trust and reliability needed to build, train and deploy AI at scale, Australia can turn its natural advantages into a genuine national AI capability.”

𝗗𝗮𝗻𝗶𝗲𝗹 𝗥𝗼𝗯𝗲𝗿𝘁𝘀, Cofounder and Co-CEO of IREN:

“Building AI infrastructure at scale requires integrating every layer: data centers, compute and software,” said Daniel Roberts, cofounder and co-CEO of IREN. “Combining IREN’s vertically integrated platform with the NVIDIA DSX AI factory reference architecture provides a repeatable blueprint to bring capacity online at scale. We are applying that blueprint across our development portfolio, bringing IREN’s proven international delivery and operating experience to our 800-megawatt Bundey campus in South Australia.”

𝗠𝗶𝗰𝗵𝗮𝗲𝗹 𝗥𝗲𝗶𝗱, CEO of Megaport:

“Megaport is proud to support Australia’s growing AI infrastructure ecosystem as an Australian-founded global infrastructure provider,” said Michael Reid, CEO of Megaport. “By investing in NVIDIA AI factories and expanding access to high-performance AI infrastructure, we help Australian organisations build and deploy AI locally, and scale globally through Megaport’s worldwide platform.”

𝗠𝗮𝗿𝗰𝗲𝗹 𝗭𝗮𝗹𝗹𝗼𝘂𝗮, Joint CEO of ResetData:

“At ResetData, we’ve proven that when Australian businesses and researchers like the team at ProCan at the Children’s Medical Research Institute have access to high-performance compute, they can deliver industry-leading results,” said Marcel Zalloua, joint CEO of ResetData. “That is why we are proud to partner with NVIDIA and develop the sovereign, purpose-built infrastructure solutions that will accelerate Australian expertise and empower local businesses with the tools needed to compete and innovate on the global stage.”

𝗚𝗿𝗲𝗴 𝗕𝗼𝗼𝗿𝗲𝗿, Founder and CEO of CDC:

“CDC operates more than 550 megawatts of capacity across Australia and New Zealand, with a further 800 megawatts under construction and additional growth planned to support world-leading, high-density workloads for critical infrastructure,” said Greg Boorer, founder and CEO of CDC. “Our facilities use 100% renewable electricity and incorporate pioneering zero water advanced cooling technologies certified for NVIDIA accelerated computing infrastructure.”

𝗗𝗮𝘃𝗶𝗱 𝗗𝘇𝗶𝗲𝗻𝗰𝗶𝗼𝗹, Chief Customer and Commercial Officer at NEXTDC:

“NEXTDC operates and continues to develop liquid-cooled, high-density infrastructure, including AI factories built on NVIDIA DSX and interconnected with the world’s leading cloud platforms,” said David Dzienciol, chief customer and commercial officer at NEXTDC.

𝗗𝗮𝗺𝗶𝗲𝗻 𝗦𝗽𝗶𝗹𝗹𝗮𝗻𝗲, Chief Customer and Innovation Officer of AirTrunk:

“AI is reshaping hyperscale infrastructure in Australia, driving new approaches to location, capacity, cooling, power and connectivity,” said Damien Spillane, chief customer and innovation officer of AirTrunk. “AirTrunk is innovating to meet this demand while creating skilled expertise, capability and economic value in Australia.”

𝗬𝘂 𝗟𝗶𝘂, Cofounder and Chief Technology Officer of Heidi:

“NVIDIA Nemotron 3 Ultra gives us the flexibility to build and post-train models for the real complexity of healthcare,” said Yu Liu, cofounder and chief technology officer of Heidi. “Combining Nemotron with Heidi’s clinical training and fine-tuning capabilities helps us reason across patient histories, clinical context and guidelines at scale, turning that information into actionable insights while preserving the trust and privacy patients expect.”

𝗚𝘂𝗶𝗵𝗼𝗻𝗴 𝗖𝗮𝗼, Head of Engineering for Rovo + AI at Atlassian:

“NVIDIA’s accelerated computing infrastructure and open model ecosystem are foundational to how Atlassian builds and delivers AI,” said Guihong Cao, head of engineering for Rovo + AI at Atlassian. “From supervised fine-tuning and reinforcement learning to powering intelligent experiences in Rovo, NVIDIA provides the performance, economics and flexibility we need to innovate responsibly at the scale our customers expect. As Australia’s AI infrastructure continues to grow, it will play an increasingly important role in that journey, and we’re excited to keep pushing the boundaries of what’s possible together.”