A Blue Owl Capital fund led a $2.4 billion debt financing to fund cloud computing service provider Iren Ltd., which will use the funds to purchase Nvidia's Blackwell Ultra GPUs for its data center campus in Canada. The deal consists of a $1.2 billion preferential guaranteed term loan and a $1.2 billion senior guarantee note, with an interest rate of 9% and a term of two and a half years. The debt will be used to support Iren's expansion of computing power at the Mackenzie data center campus in British Columbia.

A Blue Owl Capital fund led a $2.4 billion debt financing to fund cloud computing service provider Iren Ltd., which will use the funds to purchase Nvidia's Blackwell Ultra GPUs for its data center campus in Canada. The deal consists of a $1.2 billion preferential guaranteed term loan and a $1.2 billion senior guarantee note, with an interest rate of 9% and a term of two and a half years. The debt will be used to support Iren's expansion of computing power at the Mackenzie data center campus in British Columbia.