Blue Owl Capital funds are leading a $2.4 billion compute equipment financing for IREN Limited. The package pairs a $1.2 billion senior secured term loan with $1.2 billion of senior secured notes to fund NVIDIA GPU purchases for IREN's Mackenzie data center campus in British Columbia.
Funds managed by Blue Owl Capital Inc. (NYSE:OWL) led a $2.4 billion compute equipment financing for IREN Limited (NASDAQ:IREN), the companies said in a press release statement.
Financing funds NVIDIA GPU buildout
The facility consists of a $1.2 billion senior secured term loan and $1.2 billion of senior secured notes. Proceeds will fund IREN's purchase of air-cooled NVIDIA Accelerated Computing Infrastructure, including NVIDIA Blackwell Ultra GPUs, for the Mackenzie campus.
The structure ties disbursement to delivery: the facility is structured to fund equipment purchases in tranches over a defined draw period, allowing capital deployment alongside hardware delivery and commissioning. As a result, IREN can draw funds as GPUs arrive rather than upfront.
IREN's AI Cloud expansion
The transaction supports IREN's build-out of its AI Cloud infrastructure, which includes a development pipeline exceeding 5GW globally. IREN operates as a vertically integrated AI Cloud platform, delivering data centers, compute and software for AI training and inference across North America, Europe and APAC.
According to IREN Chief Financial Officer Anthony Lewis: "Customer demand for AI compute is accelerating, and we are scaling rapidly to meet it." Blue Owl, for its part, manages $319 billion in assets as of June 30, 2026, investing across Credit, Real Assets and GP Strategic Capital platforms.
Source: Investing.com
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