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Jonah Lupton, investor and market commentator at Social Media / FinTwit, commented on NVDA's arrangement with IREN, clarifying the nature of their recent agreement.
NVDA has entered into a partnership with IREN that gives IREN access to purchase NVDA's top GPUs. In exchange, NVDA will acquire $2 billion worth of IREN stock at a $70 cost basis. Lupton emphasized this is not a direct $2 billion investment by NVDA but rather an equity-for-hardware deal.
Lupton has previously commented on earnings and deal activity involving U.S. tech companies. He recently discussed Palantir's robust financials and growth in the U.S., while noting concerns about its valuation. He also reacted to rumors of GameStop bidding to acquire eBay and questioned the feasibility of such an offer.