Blue Owl leads $2.4 billion financing for IREN’s NVIDIA AI infrastructure

Summary

The financing consists of a $1.2 billion senior secured term loan and$1.2 billion of senior secured notes. The proceeds will fund air-cooled NVIDIA Accelerated Computing Infrastructure for IREN’s Mackenzie campus and support its reported global development pipeline of more than 5GW.

Why it matters

The transaction is a major example of GPU infrastructure becoming an asset-backed financing category rather than being funded solely through technology-company balance sheets.

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Sources

• Blue Owl Managed Funds Lead $2.4 Billion AI Factory Financing for IREN