IREN and Wingspire close $363 million financing on AI compute gear

The deal refinances GPU servers and networking equipment IREN already owns, freeing up capital for further AI Cloud growth IREN Limited (NASDAQ: IREN) has closed a $363 million equipment financing deal with Wingspire Equipment Finance. The transaction, completed on October 28, 2026, is backed by high-density AI computing assets the company already has up and running. The money is not for buying new hardware. It refinances GPU servers and networking systems that are already earning revenue. How the deal works The financing was arranged through a syndicate of six lenders. Eldridge Capital Management and Silver Point Capital led the group. The collateral is the deployed equipment itself: GPU-based servers plus the networking gear that ties them together. That hardware is supported by multi-year customer contracts, which gives lenders visibility into the cash flows behind the loan. For IREN, the payoff is a return of capital equal to a significant percentage of what the equipment originally cost. Dylan Potter, VP of Business Development at Wingspire, said the deal was tailored to preserve flexibility in how IREN works with its customers. The lender and the bigger financing streak Wings...