Blue Owl Managed Funds Provide $2.4 Billion in Financing for IREN's AI Infrastructure
Blue Owl Capital Inc., an alternative asset manager, has led a $2.4 billion financing deal to support the deployment of NVIDIA’s AI infrastructure at IREN Limited, a vertically integrated AI Cloud platform. The funding includes a $1.2 billion senior secured term loan and $1.2 billion in senior secured notes, which will be used by IREN to purchase air-cooled NVIDIA Blackwell Ultra GPUs for its Mackenzie data center campus in British Columbia. The financing is structured as tranches over a defined draw period, aligning capital deployment with hardware delivery and commissioning. This transaction supports the expansion of IREN’s AI Cloud infrastructure, which has more than 5 gigawatts (GW) of global development pipeline for data centers. Executives from Blue Owl, NVIDIA, and IREN emphasized that this financing model is scalable and repeatable, reflecting growing demand in the AI compute market. Blue Owl highlighted its experience across over 100 data centers globally as a key factor enabling it to tailor such large-scale infrastructure financings while delivering strong risk-adjusted returns for investors.
Topics: AI infrastructure Blue Owl data centers GPU financing NVIDIA