It was +/-14% last Friday but this week’s dip is causing it to get wider. IREN is high beta but this is still a pretty wild range. If it does hit the lower end, I wouldn’t expect it to last long before it gets bid back up.
https://iren.com/resources/news/responsible-data-center-growth-how-iren-builds-in-texas
Texas is asking the right questions about data center growth: how to ensure Texans reap the benefits while protecting their natural resources. At IREN, that has been our approach from day one.
Governor Abbott's recent directive calls for transparency on power and water use, grid reliability, and community protection in data center development. These are the right priorities, and they reflect how IREN has operated in Texas from day one. Reviews that ensure projects are in Texans' best interests help credible development move forward. Transparency builds trust. That is why IREN was among the small minority of companies that responded to the Public Utility Commission of Texas' survey on energy and water use.
IREN builds data centers the right way. We hire locally. We live in the communities where we operate, and support them through training, local sponsorships, investment in community infrastructure and grants to community organizations. Our data centers don’t evaporate water for cooling; we recirculate it in a modern closed-loop system. Our commitment to responsible development and operation has guided our work in rural West Texas for years. That’s why we build our sites with significant setbacks from residential neighborhoods.
Our Childress campus is a prime example. We located it several miles outside of town and funded all necessary grid upgrades to support the project. Its modern cooling system doesn’t rely on the local water supply. We have created over 200 permanent jobs, many of which are filled by Childress locals, making us one of the largest employers in the county. On top of that, we have hired thousands of construction workers and engaged local contractors over several years. We’re taking this approach at our Sweetwater campus as well.
At IREN, we’re proudly investing billions of dollars and creating thousands of jobs in Texas, including at our new global operations hub in Fort Worth. Texas has been central to our growth, and we intend to keep building here the way we always have: responsibly, and for the long term. We look forward to working with the Governor's office, the PUCT and ERCOT as these standards take shape.
Link from X: https://x.com/jensenhuang/status/2086934705207959965
Full article:
Today, we announced partnerships with Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR to establish independent financing platforms designed to mobilize over $500 billion of third-party capital to support the buildout of AI infrastructure over time.
This is a major milestone for NVIDIA and the AI industry. We have moved from an era in which companies bought chips and built data centers project by project to one in which AI factories can be financed as productive infrastructure — with repeatable platforms, long-term institutional capital and a diverse customer base that uses compute to create revenue.
AI has reached an inflection point. It is moving from research into production. AI is creating real value, and the infrastructure behind it is becoming one of the world’s most productive assets. In AI, compute is revenue.
A New Infrastructure Asset
NVIDIA compute is not just a chip. It is a complete AI factory platform including accelerated computing, networking, systems software, AI frameworks and a global developer ecosystem.
NVIDIA DSX AI factories can run the world’s broadest range of AI models, modalities and algorithms — language, vision, speech, biology, physical AI and robotics. One NVIDIA AI factory can serve many customers and many workloads. That makes it flexible and fungible.
It is also built on a globally adopted architecture used across every major cloud, and by systems makers and enterprises around the world. When needs change, the factory can be used by another customer, another cloud or another operator. This broad ecosystem gives NVIDIA compute a deep market of potential users and offtakers, helping protect residual value.
CUDA makes the factory better over time. Every generation of NVIDIA software improves the performance, efficiency and total cost of ownership of already- installed infrastructure. The hardware does not stand still: software innovation allows an AI factory to produce more intelligence at lower cost throughout its life, extending its useful economic value.
NVIDIA A100 is a powerful example. NVIDIA introduced the Ampere-based A100 in 2020, and six years later, it remains in active commercial use for AI training, fine-tuning, inference and high-performance computing. Customers continue to commit capacity for multi-year deployments, extending A100’s economic life toward a decade.
The market is also demonstrating the durability of NVIDIA compute economics. One-year H100 rental pricing rose from about $1.70 per GPU-hour in October 2025 to about $2.35 per GPU-hour in March 2026. Cross-provider on-demand median pricing rose from roughly $2.00 per GPU-hour in October 2025 to $2.70 in June 2026. Blackwell capacity commands a premium, with reported B200 cloud rates spanning approximately $5.30 to $7.05 per GPU-hour.
That is what makes NVIDIA AI factories different. Their value is not fixed at installation: CUDA continuously improves their output; the installed base remains productive well beyond its initial depreciation period; and the same standard architecture serves a deep, growing global market of AI workloads.
These are the characteristics of an investable infrastructure asset: it produces revenue, serves a broad market, improves in performance over time and can be redeployed.
Bringing Capital to AI Factories
The demand for AI infrastructure is extraordinary. But access to capital is uneven. Many great AI companies, enterprises and AI clouds have demand for compute but do not yet have access to financing at the scale or cost required to build quickly.
That is why we are partnering with the world’s leading long-term capital providers.
Apollo, BlackRock, Blackstone, Brookfield, Goldman Sachs and KKR are also among the world’s leading infrastructure investors, with deep expertise in underwriting long-lived, productive assets.
Together, we are creating repeatable financing platforms to help the AI ecosystem build the factories it needs.
The platforms are designed to help qualified AI labs, enterprises and AI clouds access AI-factory infrastructure at scale. The more than $500 billion figure represents aggregate third-party capital that these platforms are designed to mobilize over time — the capital is not NVIDIA revenue, a single fund or a commitment to a single customer.
The financial institutions will independently assess each opportunity — the customer, demand, utilization, cash flow and residual value. NVIDIA provides the AI factory platform. The financial institutions provide long-term capital and financing expertise.
The Important Questions
Is this circular financing?
This initiative is designed to address that concern. We are bringing independent, long-term institutional capital into the AI infrastructure market.
The demand is real: it comes from frontier AI labs, AI-native startups, enterprises, cloud providers and countries building AI services. The capital providers independently underwrite each project — including the customer, demand, utilization, cash flow and residual value. NVIDIA provides the platform; the investors make independent financing decisions.
This is the beginning of an open capital market for AI infrastructure.
Why would NVIDIA support financing?
In some cases, NVIDIA may provide a residual-value support mechanism for up to 25% of an opportunity, assessed carefully on a project-by-project basis. That support is limited, residual-value based and designed to complement — not replace — independent underwriting.
This is substantially lower than other compute-financing arrangements. NVIDIA can provide support because NVIDIA compute is unique: it is fungible, universally adopted, software-upgradable and redeployable across a large ecosystem of customers.
Our role is to help unlock a very large pool of independent capital while maintaining disciplined risk exposure.
Can the market absorb this capacity?
The question is not whether we are building data centers. The question is whether we are building productive AI factories.
An AI factory turns energy and data into valuable intelligence. Its customers are broad: frontier AI labs, AI clouds, enterprises and nations. They are building AI because it has become useful — doing valuable work across every industry.
There is discipline in the model. Each financing partner will independently evaluate demand, utilization, cash flow and residual value. Capacity will be built around real customer economics.
Where is the return on investment?
The return is in the usefulness of AI.
Companies are using AI to write software, discover drugs, design products, serve customers, automate operations and build new services. AI factories make this possible. More compute creates better AI; better AI creates more usage; more usage creates more revenue; and more revenue drives more compute.
This is the virtuous cycle of the AI industrial revolution.
The Infrastructure of Intelligence
Every industrial revolution has been built on infrastructure: electricity, transportation, communications and computing, with every buildout enabled by external financing.
AI factories are the infrastructure of the intelligence era.
With these partnerships, NVIDIA and the world’s leading financial institutions are creating a new way to finance the infrastructure that will power this industrial revolution. We will make AI factories more accessible to the companies, industries and nations building the future.
The age of AI is here. Together, we will build the infrastructure to power it.
This could be yuge 👀
$43 break even price exp Friday 👀
He’s been with me through some of the toughest times of my life. Rocky turned 12 this year and I’m so lucky to still have this happy healthy boy by my side. Not a day goes by that I don’t remind him how much I love him.
Just wanted to share him with you guys.
Technicals were looking sketchy until the final hour this week but we’ve got ourselves a clean breakout. Volume, momentum, and RSI confirm. These are the best looking charts I’ve seen since the great July correction.
DALLAS, TX / ACCESS Newswire / August 6, 2026 / United States Antimony Corporation (“USAC,” “US Antimony,” or the “Company”), (NYSE: UAMY) (NYSE Texas: UAMY), a leading producer and processor of antimony, zeolite, and other critical minerals, and the only fully integrated antimony company in the world outside of China and Russia, will release its financial and operating results for the second quarter ended June 30, 2026, after the U.S. markets close on Tuesday, August 11, 2026.
Certain members of US Antimony’s senior management team will host the conference call and webcast on Tuesday, August 11, 2026 at 4:15 PM ET. Immediately prior to the conference call and webcast, US Antimony will issue a press release regarding the financial and operating results for this period.
Conference Call Details
Event: US Antimony Second Quarter 2026 Financial and Operational Results
Webcast Event Date: Tuesday, August 11, 2026, 4:15 PM Eastern Time
Webcast URL: https://www.webcaster5.com/Webcast/Page/2604/54382
https://www.texastribune.org/2026/08/03/texas-data-center-project-audit-greg-abbott/
Amid growing public backlash to the rapid buildout of data centers across Texas, Gov. Greg Abbott on Monday announced a moratorium on the approval of data centers until regulatory agencies can audit proposed data centers seeking connection to the state’s electric grid.
It is unclear how long the audit will take, but the effort is Abbott’s strongest effort yet to slow the development of these data centers statewide and underscores how little information members of the public, including state leaders, know about the facilities.
Abbott is asking the Public Utility Commission of Texas and the Electric Reliability Council of Texas to ensure data center developers provide information on tax breaks they will receive; power use and generation; water use and cooling operations; efforts to reduce impacts on local communities; and ownership of the facility. Any projects that fail Abbott’s ordered “comprehensive verification and audit” should be denied connection to the grid, the governor said.
“Our top priority is to protect Texans’ safety and quality of life,” Abbott wrote in a statement. “Any project that fails to comply with the requirements set forth by the PUCT and ERCOT, and by state law, must be denied connection to the Texas grid. Simply put, Texans must come first.”
Abbott’s letter to the PUCT and ERCOT directs them to conduct the audit on all data centers advancing through ERCOT’s interconnection queue, or the line for energy intensive projects seeking connection to the electric grid. ERCOT is currently tracking more than 1,800 projects in the queue, representing over 474 gigawatts of electricity, or more than five times the grid’s record for peak demand, according to ERCOT. Approximately 90% of the new power requests are data centers, Abbott said.
ERCOT and the PUCT are already conducting a review of some of the projects in the queue through a process known as “batch zero.” It is unclear if Abbott wants agencies to audit those projects or all those currently in the queue. Following Abbott’s directive, ERCOT said Monday they are putting the batch zero review on pause.
There is no state or federal government database of the facilities, but the Texas Tribune has identified at least 335 data centers operating in Texas. The state is currently the second largest market for the facilities in the country, behind Virginia, and is poised to take the top spot. The Tribune has identified at least 248 planned data centers coming to the state, although hundreds more in lesser development phases have lined up in the power queue.
While Abbott’s directive pauses the approval of new data centers seeking connection to the ERCOT grid, some data centers are building on-site power generation that allows them to bypass traditional connection to the grid. The ERCOT region also does not include the entirety of the state, like El Paso, which has seen the development of several large data centers.
The Data Center Coalition, a trade group that represents some of the nation’s largest tech companies, said it was hopeful Abbott’s directive could separate responsible developers from irresponsible ones and urged regulators to quickly conduct the audits.
“Done correctly, this review can showcase the good actors in the data center industry rather than delaying them unnecessarily, ensuring Texas will continue to be the national leader in economic development,” the organization’s spokesman Dan Diorio wrote in a statement Monday.
Just after he scooped up Leopold Aschenbrenner’s portfolio for pennies on the dollar. You are not bullish enough.
ETA: This clip is actually 3 weeks old, here’s the full video. Still probably showed his thinking leading up to the acquisition.
It took them about 3 weeks to post this but better late than never. It’s a great watch and shows exactly what kind of customer IREN is targeting with their cloud product.
They learned absolutely nothing from the mass liquidation margin calls.
Sounds like he got margin called and was forced to liquidate. Reports that he also had to sell his $4B stake in Anthropic to cover.
Never use margin, boys. It’s not worth it.