Blue Owl Capital Inc. (NYSE: OWL) announced it led a $2.4 billion compute equipment financing for IREN Limited (NASDAQ: IREN), an AI cloud platform. The financing includes a $1.2 billion senior secured term loan and $1.2 billion of senior secured notes, funding IREN's purchase of NVIDIA accelerated computing infrastructure, including Blackwell Ultra GPUs.

The equipment will support IREN's Mackenzie data center campus in British Columbia, Canada. The facility is structured for tranche drawdowns over time, aligning capital deployment with hardware delivery and commissioning. This supports IREN's build-out, backed by a global data center development pipeline exceeding 5GW.

IREN CFO Anthony Lewis noted accelerating AI compute demand and the need to scale capacity for training and inference workloads. NVIDIA's Nico Caprez highlighted that CUDA makes AI infrastructure a fungible, investable asset class, citing this deal as a repeatable model for large-scale financing.

Blue Owl's Kurt Tenenbaum emphasized the firm's track record across 100+ data centers worldwide and strong risk-adjusted returns for investors. Blue Owl, with $319 billion in assets under management as of June 30, 2026, continues to expand its alternative investment platforms across credit, real assets, and GP strategic capital.