Blue Owl Leads $2.4 Billion Iren Debt Deal to Buy Nvidia’s Chips

Blue Owl Capital Inc. led a debt deal for cloud computing provider Iren Ltd., valued between $2.4 billion and $2.8 billion. Iren will utilize these funds to acquire Nvidia Corp.’s Blackwell Ultra GPUs for a data center campus located in Canada. This transaction highlights a growing shift toward private credit for AI infrastructure funding, reflecting evolving financial strategies as the technology sector expands. The deal emphasizes the increasing reliance on private credit to support high-cost hardware acquisitions.