US Stock Market Move | Investing approximately 670 million US dollars to purchase GPU IREN Limited (IREN.US) increased by nearly 7%.

On Monday, IREN Limited (IREN.US) surged nearly 7%, hitting a new all-time high, with a year-to-date gain of 319%. In terms of news, the company announced that it has invested about $670 million to purchase GPUs from NVIDIA Corporation (NVDA.US) and AMD (AMD.US) to accelerate its growth in artificial intelligence cloud business. IREN stated in a declaration that the purchase includes 7100 units of NVIDIA Corporation's B300 GPU, 4200 units of NVIDIA Corporation's B200, and 1100 units of AMD MI350X, with a total value of around $674 million. This move raises its total installation of GPUs to approximately 23,000 units. These devices will be delivered in phases to IREN's campus in Prince George's County, with the expectation of supporting the company in achieving its goal of over $500 million in annual recurring revenue from AI cloud business by the end of the first quarter of 2026.