The NASDAQ-listed firm secures funding covering 96% of GPU capex for its AI infrastructure expansion through 2026.
IREN Limited (NASDAQ:IREN) closed a $3.65 billion investment-grade GPU financing facility to support its AI cloud contract with Microsoft. The funding targets large-scale GPU capital expenditures for the company’s AI infrastructure buildout, anchored by the Microsoft-backed agreement.
The facility combines a US private placement and a delayed draw term loan, securing broad institutional participation and investment-grade credit ratings. It covers 96% of the required GPU capex and is collateralized by the underlying GPUs and contracted cash flows.
IREN plans to scale its AI cloud capacity to 480 MW by the end of 2026, leveraging the financing to reduce blended capital costs. The deal reflects strong demand from global financial institutions for GPU-driven AI infrastructure projects.