Blue Owl Capital said funds it manages led a $2.4 billion compute equipment financing for IREN Limited, an AI Cloud platform. The financing consists of a $1.2 billion senior secured term loan and $1.2 billion of senior secured notes, with proceeds funding IREN’s purchase of air-cooled NVIDIA Accelerated Computing Infrastructure, including NVIDIA Blackwell Ultra GPUs, for its Mackenzie data center campus in British Columbia, Canada. Equipment purchases will be funded in tranches during a defined draw period, aligning capital deployment with hardware delivery and commissioning. The transaction supports IREN’s AI Cloud expansion, backed by a more than 5GW global data center development pipeline. Blue Owl said its digital infrastructure operating and underwriting experience, including work across more than 100 data centers worldwide, helped shape the facility. Blue Owl reported $319 billion in assets under management as of June 30, 2026, while IREN serves AI training and inference workloads across its vertically integrated platform.