A fund under Blue Owl Capital led a $2.4 billion debt financing for cloud computing services provider Iren to purchase Nvidia Blackwell Ultra GPUs for its Canadian data center campus. The financing comprises a $1.2 billion senior secured term loan and $1.2 billion of senior secured notes, with a structure allowing Iren to acquire the equipment in stages during a specified period. Pacific Investment Management Co. is among the guarantors. The financing carries a 9% interest rate and has a two-and-a-half-year term, Bloomberg reported.