NVIDIA to Invest Up to $2.1 Billion in IREN, Build Large-Scale Texas AI Factory

The race to build AI computing capacity requires developers to secure vast amounts of power, long-term tenants and investment-grade credit before lenders will fund new campuses. Nvidia’s role at Hut 8’s Beacon Point project shows the chipmaker moving beyond selling GPUs: Chief Executive Jensen Huang is using the company’s balance-sheet strength to support infrastructure built around Nvidia systems. The strategy can accelerate deployment and lock in future chip demand, while increasing scrutiny of financial interdependence across the AI supply chain.

Hut 8 said on July 20, 2026, that a second 15-year, $9.8 billion lease had fully commercialized its Beacon Point campus in Texas, doubling the same tenant’s contracted capacity to 704 MW. The two leases carry a $19.6 billion base-term value and could reach $50.2 billion if all renewal options are exercised. The Financial Times reported on July 28 that Nvidia was behind the tenant and could sublease capacity to neocloud partners that buy its GPUs. The campus will use NVIDIA DSX architecture, with initial energization planned for the first quarter of 2027.

Nvidia has long dominated the AI computing market through its GPUs and CUDA software and is now taking a larger role as an industry investor. Investments in cloud, optical communications and data-center companies could reinforce chip demand and its supply chain while encouraging customers and startups to adopt more of its technology ecosystem.

As of July 20, 2026, Nvidia was planning strategic deals worth about $90 billion across the AI infrastructure supply chain. The transactions are primarily intended to cement relationships with customers and suppliers through capital partnerships and expand Nvidia's influence in cloud computing, data centers and high-speed optical communications.

Nebius is an Amsterdam-based AI infrastructure provider formed from Yandex’s international operations. It primarily offers GPU cloud computing and data center services. As generative AI drives demand for computing power, Nvidia’s equity investment deepens its ties with cloud service providers and could broaden the reach of its chips, networking products and software platforms.

As of July 19, 2026, Nvidia had announced a $2 billion investment in Nebius that is expected to give it a stake of about 8.3%. The companies will jointly deploy full-stack AI infrastructure. Nebius has signed major contracts with Microsoft and Meta and plans to build more than 5 GW of data center computing capacity by 2030.