Financing for NVIDIA AI Infrastructure deployment draws on Blue Owl's digital infrastructure operating and underwriting experience

, /PRNewswire/ -- Blue Owl Capital Inc. (NYSE: OWL) ("Blue Owl"), a leading alternative asset manager, today announced that funds managed by Blue Owl led a $2.4 billion compute equipment financing for IREN Limited (NASDAQ: IREN) ("IREN"), a vertically integrated AI Cloud platform delivering data centers, compute, and software for AI training and inference.

The financing comprises a $1.2 billion senior secured term loan and $1.2 billion of senior secured notes, with proceeds to fund IREN's purchase of air-cooled NVIDIA Accelerated Computing Infrastructure including NVIDIA Blackwell Ultra GPUs for IREN's Mackenzie data center campus in British Columbia, Canada. The facility is structured to fund equipment purchases in tranches over a defined draw period, allowing capital to be deployed alongside the delivery and commissioning of hardware. The transaction supports IREN's continued build-out of its AI Cloud infrastructure, which is underpinned by a more than 5GW global data center development pipeline.

"Customer demand for AI compute is accelerating, and we are scaling rapidly to meet it. This financing supports the continued build-out of our AI Cloud infrastructure at Mackenzie, expanding our capacity to serve a growing customer base across both AI training and inference workloads," said Anthony Lewis, Chief Financial Officer, IREN.

"Compute Unified Device Architecture (CUDA) makes NVIDIA AI factories fungible across any customers and workloads—and better over time. That makes NVIDIA AI infrastructure an investable infrastructure asset class for long-term capital. Blue Owl's $2.4 billion asset-backed GPU financing for IREN is another great proof point—and a repeatable model for financing AI infrastructure at scale," said Nico Caprez, Vice President, Global AI Infrastructure Growth at NVIDIA.

"This is equipment finance at AI scale, and it demands the same discipline," said Kurt Tenenbaum, Senior Managing Director at Blue Owl. "Our investment track record, combined with operating experience across more than 100 data centers worldwide, lets us tailor this facility to how AI Infrastructure is actually delivered and deployed. That's what makes us a partner of choice for the AI compute ecosystem, while providing our investors with strong risk-adjusted returns."

About Blue Owl Capital Inc.

Blue Owl (NYSE: OWL) is a leading asset manager that is redefining alternatives®. With $319 billion in assets under management as of June 30, 2026, we invest across three multi-strategy platforms: Credit, Real Assets and GP Strategic Capital. Anchored by a strong permanent capital base, we provide businesses with private capital solutions to drive long-term growth and offer institutional investors, individual investors, and insurance companies differentiated alternative investment opportunities that aim to deliver strong performance, risk-adjusted returns, and capital preservation.

Together with over 1,380 experienced professionals globally, Blue Owl brings the vision and discipline to create the exceptional. To learn more, visit www.blueowl.com or LinkedIn: https://www.linkedin.com/company/blue-owl-capital.

About IREN

IREN is a vertically integrated AI Cloud platform, delivering data centers, compute and software for AI training and inference. IREN's platform is underpinned by its expansive portfolio of land and grid connected power in renewable-rich regions across North America, Europe and APAC.

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SOURCE Blue Owl Capital