Funds managed by Blue Owl Capital Inc. (NYSE: OWL) led a $2.4 billion compute equipment financing for IREN Limited (NASDAQ: IREN), according to a press release issued Aug. 28, 2026.

The financing is structured as a $1.2 billion senior secured term loan and $1.2 billion in senior secured notes. Proceeds will fund IREN's purchase of air-cooled Nvidia Accelerated Computing Infrastructure, including Nvidia Blackwell Ultra GPUs, for IREN's Mackenzie data center campus in British Columbia, Canada.

The facility is structured to fund equipment purchases in tranches over a defined draw period, allowing capital to be deployed alongside hardware delivery and commissioning.

"Customer demand for AI compute is accelerating, and we are scaling rapidly to meet it. This financing supports the continued build-out of our AI Cloud infrastructure at Mackenzie, expanding our capacity to serve a growing customer base across both AI training and inference workloads," said Anthony Lewis, Chief Financial Officer of IREN.

Kurt Tenenbaum, Senior Managing Director at Blue Owl, said the firm's experience across more than 100 data centers worldwide informed how the facility was structured. "This is equipment finance at AI scale, and it demands the same discipline," he said.

Nico Caprez, Vice President of Global AI Infrastructure Growth at Nvidia, described the transaction as "a repeatable model for financing AI infrastructure at scale."

Blue Owl reported $319 billion in assets under management as of June 30, 2026. IREN describes its global data center development pipeline as exceeding 5 gigawatts.