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Legendary trader slams billion dollar Nvidia GPU deal for AI push [Yahoo! Finance]
Last nvidia corporation earnings: 2/13 04:20 pm
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Crypto miner turned AI infrastructure firm IREN (NASDAQ: IREN) is ramping up its ambitions in artificial intelligence. On March 5, IREN announced the expansion of its equity fundraising capacity while purchasing a new fleet of Nvidia (NASDAQ: NVDA) GPUs. However, the strategy is already drawing scrutiny from one of Wall Street's most well-known skeptics. Related: What is Bitcoin mining? Explained IREN ramps up AI expansion with massive GPU order As part of its aggressive expansion strategy, IREN announced on March 4 that it had agreed to purchase more than 50,000 Nvidia B300 GPUs. The new order will increase the company's AI computing capacity by roughly 50%, bringing its total fleet to around 150,000 GPUs by the end of 2026. Graphics processing units, or GPUs, are specialized chips designed to perform large volumes of parallel computations, making them essential for training and running modern artificial intelligence models. The company said the newly acquired chips
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