IREN and Wingspire Equipment Finance Complete $363 Million Financing for High-Density AI Compute Assets

Multi-year customer contracts support the financing of IREN’s deployed AI compute equipment.

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TUSTIN, Calif. & SYDNEY--(BUSINESS WIRE)-- Wingspire Equipment Finance and IREN Limited (NASDAQ: IREN) (“IREN”) announced the closing of a $363 million equipment financing transaction supporting IREN’s AI compute business.

The Equipment Finance Agreement refinanced recently acquired, revenue-generating AI compute infrastructure, including GPU-based servers and networking systems deployed in high-density data center environments. Wingspire Equipment Finance completed the transaction with a six-lender group, led by major commitments from Eldridge Capital Management and Silver Point Capital.

The financing returned substantial capital to IREN, representing a meaningful percentage of the equipment’s original cost, converting existing equipment investments into liquidity the company can redeploy to support continued growth. The structure was secured principally by the financed equipment and is supported by multi-year customer contracts.

“IREN was looking to unlock capital from deployed AI infrastructure while preserving flexibility around its customer relationships,” said Dylan Potter, Vice President of Business Development at Wingspire Equipment Finance. “We structured a tailored, asset-backed solution aligned with the company’s operating model and stayed closely engaged with the IREN team throughout the process to execute a complex financing of this scale.”

"This equipment finance facility will support IREN's sustained trajectory of expansion as it scales to meet future customer demand. Eldridge is proud to provide an anchor commitment here, reflecting our commitment to backing infrastructure that will define the future of AI compute," said Harrison Smith, Managing Director at Eldridge Capital Management.

The transaction demonstrates Wingspire Equipment Finance’s ability to execute complex, large-scale financing programs for the capital-intensive infrastructure that supports AI compute platforms. As a leading provider of large-ticket equipment financing, Wingspire Equipment Finance delivers the lending capacity, asset-level structuring, and execution certainty required to support the equipment ecosystem behind high-performance data centers.

About Wingspire Equipment Finance

Wingspire Equipment Finance is a leading provider of large transaction equipment financing solutions, empowering middle-market and private equity-backed companies with flexible and innovative capital structures. With a focus on client success and industry expertise, Wingspire Equipment Finance provides strategic capital solutions that promote long-term success for its clients. Wingspire Equipment Finance is the equipment financing arm of Wingspire Capital, a portfolio company of Blue Owl Capital Corporation (NYSE: OBDC). OBDC is externally managed by Blue Owl Credit Advisors LLC, an indirect affiliate of Blue Owl Capital, Inc. (NYSE: OWL). Blue Owl Capital, Inc. is a global alternative asset manager with $319 billion of assets under management as of June 30, 2026.

Loans made or arranged pursuant to a California Financing Law license.

About IREN

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

About Eldridge

Eldridge, a global holding company, manages a diversified set of businesses and investments across Asset Management, Critical Minerals, Culture & Media, Defense & Security, Infrastructure, and Insurance. To learn more, please visit eldridge.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261028683272/en/

Media Contacts:

Wingspire Equipment Finance
pressinfo@wingspirecapital.com

IREN
media@iren.com

Eldridge
EldridgePR@prosek.com

Source: Wingspire Equipment Finance

Key Terms

gpu technical

A GPU (graphics processing unit) is a specialized computer chip designed to handle many calculations at once, originally for rendering images and video but now widely used for tasks like artificial intelligence, data analysis and high-performance computing. Investors watch GPU demand and prices because strong sales often signal growth for chip makers and their customers, affect profit margins and capital spending, and can forecast wider trends in gaming, AI adoption and cloud services.

asset-backed financial

Asset-backed describes a loan, bond, or security that is supported by a specific pool of tangible or financial items—such as loans, receivables, leases, or property—that can be sold or collected to pay investors if the borrower can’t. Think of it like a loan tied to collateral: if payments stop, the assets provide a safety net, which changes the investment’s risk, expected return, and how regulators treat it.