We advised IREN on the transaction

Davis Polk advised IREN Limited in connection with its issuance of purchase rights to NVIDIA Corporation to purchase up to 30 million ordinary shares in a private placement for aggregate gross proceeds of up to $2.1 billion in connection with its commercial agreement to provide dedicated GPU services to NVIDIA at data center facilities located in Childress, Texas.

IREN is a vertically integrated AI cloud provider, delivering large-scale data centers and GPU clusters for AI training and inference. IREN’s platform is underpinned by its expansive portfolio of grid-connected land and power in renewable-rich regions across North America, Europe and APAC. 

NVIDIA Corporation is the world leader in accelerated computing.

The Davis Polk capital markets team included partner Marcel Fausten and associate Cheridan Christnacht. All members of the Davis Polk team are based in the New York office.

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