Iren signs $50 million NBA sponsorship as investors add $6 million stake

AI infrastructure firm Iren Limited announced a $50 million per‑year partnership with the NBA's Golden State Warriors, placing its logo on every jersey—a deal that investors have criticised as costly given the company’s heavy borrowing and dilution risk. The sponsorship was highlighted alongside concerns about a large founder equity package.

Separately, Portman Square Capital LLP disclosed a new purchase of 176,466 Iren shares worth about $6.05 million, representing roughly 0.2 % of the fund’s portfolio. The filing showed other institutional investors also adjusting holdings, while analysts noted continued optimism about Iren’s shift from Bitcoin mining to AI data‑center contracts.

Both developments reflect ongoing scrutiny of Iren’s capital allocation and its strategy to expand AI infrastructure services.