Blue Owl Leads $2.4 Billion Financing for IREN's GPU Infrastructure
Blue Owl Capital (NYSE: OWL) has led a $2.4 billion senior secured financing deal to support IREN (NASDAQ: IREN)'s purchase of NVIDIA GPUs at its Mackenzie campus in British Columbia, as reported by Bloomberg and Blue Owl’s press release from August 28. The funding is split into two parts—$1.2 billion term loan and $1.2 billion notes—with both carrying a 9% interest rate maturing after 2.5 years. IREN will use the proceeds to acquire NVIDIA's Blackwell Ultra GPUs, with purchases occurring in tranches aligned with hardware delivery. This financing is part of IREN’s broader strategy to scale its AI Cloud infrastructure amid rising demand for compute resources. The company plans to expand GPU capacity to 150,000 units by the end of 2026 and has a $25 billion–$30 billion capital plan through fiscal-2027 covering data-center construction into 2028. IREN’s CFO noted that customer demand is accelerating and this financing will help meet it.
