IREN and Wingspire Close $363 Million Equipment Financing for AI Compute Infrastructure

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

Wingspire Equipment Finance and IREN Limited have closed a $363 million equipment financing transaction aimed at supporting IREN's expanding AI compute business, the two companies announced Wednesday. The deal underscores the growing appetite among lenders to finance the capital-intensive infrastructure underpinning the artificial intelligence boom, as operators seek to convert deployed hardware into working capital.

The Equipment Finance Agreement refinances recently acquired, revenue-generating AI compute infrastructure, including GPU-based servers and networking systems deployed in high-density data center environments. Wingspire completed the transaction with a six-lender group, led by anchor commitments from Eldridge Capital Management and Silver Point Capital. The structure was secured principally by the financed equipment and is backed by multi-year customer contracts.

The financing returned substantial capital to IREN, representing a meaningful percentage of the equipment's original cost and converting existing equipment investments into liquidity the company can redeploy to support continued growth. Dylan Potter, Vice President of Business Development at Wingspire Equipment Finance, said IREN was seeking to unlock capital from deployed AI infrastructure while preserving flexibility around its customer relationships. "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," Potter said.

Harrison Smith, Managing Director at Eldridge Capital Management, described the facility as support for IREN's sustained expansion trajectory 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," Smith said.

The transaction highlights the specialized financing capacity required to support high-performance data centers and AI compute platforms, a segment where equipment costs are substantial and operators increasingly look to asset-backed structures to fund growth. Wingspire Equipment Finance, the equipment financing arm of Wingspire Capital and a portfolio company of Blue Owl Capital Corporation, positions itself as a provider of large-ticket equipment financing with asset-level structuring and execution certainty for the ecosystem behind AI infrastructure. IREN, a vertically integrated AI Cloud provider, delivers large-scale data centers and compute for AI training and inference, underpinned by a portfolio of grid-connected land and power in renewable-rich regions across North America, Europe and APAC.