IREN rises 5.61% pre-market after Australia data center deal
Bundey campus plan targets 800MW AI data center capacity
IREN secures 330kV transmission access in South Australia
Australia project may create 700 jobs during and after buildout
IREN targets APAC AI demand with Bundey data center campus
IREN Limited (IREN) pushed higher before the open after announcing a major Australian AI infrastructure plan. IREN rose to $70.34 pre-market, up 5.61%, after closing at $66.60, up 1.94%. The move followed a transmission connection deal for an 800MW data center campus in Bundey, South Australia.
IREN said the agreement supports its planned 800MW data center campus northeast of Adelaide. The site sits about 78 miles from the city. Moreover, the project marks IREN’s first announced data center development in Australia.
The company secured high-voltage transmission access into the utility’s substation. The agreement covers four 330kV feeder exits. As a result, IREN expects the site to support up to 800MW without network upgrades.
The stock reaction reflected strong demand for large-scale AI infrastructure announcements. IREN gained 5.61% pre-market after a 1.94% regular-session rise. The chart also showed a sharp early breakout after the news.
IREN expects the Bundey campus to begin energization from 2028. The company plans early works and procurement alongside regulatory approvals. However, those steps remain tied to conditions under the transmission connection agreement.
The campus also benefits from submarine fiber routes into major Asia-Pacific demand centers. These markets include Singapore, Indonesia, South Korea, and Japan. Therefore, the project could serve regional AI compute demand from South Australia.
Asia-Pacific continues to face rising AI infrastructure needs. At the same time, available data center capacity remains limited across several key markets. Hence, IREN’s Australian push adds capacity in a region seeking more AI compute access.
South Australia offers a strong renewable energy backdrop for the campus. The state targets 100% net renewable energy by 2027. Besides, that target supports IREN’s focus on large-scale compute powered by cleaner electricity sources.
IREN plans create more than 500 construction jobs. It also expects over 200 ongoing skilled roles after development. Additionally, the campus could support local research, innovation, and technical workforce growth.
The project gives IREN a larger role in the AI data center market. It also expands the company beyond its existing infrastructure footprint. Consequently, the Bundey plan now anchors IREN’s Australian growth strategy.
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