IREN closes $363M equipment financing with Wingspire for AI compute gear

Wingspire Equipment Finance completed a $363M Equipment Finance Agreement for IREN, which refinanced recently acquired AI compute infrastructure. The assets include GPU-based servers and networking systems in high-density data centers. The deal was completed with a six-lender group, with major commitments from Eldridge Capital Management and Silver Point Capital. The structure is secured principally by the financed equipment and supported by multi-year customer contracts. IREN said the proceeds convert existing equipment into liquidity it can redeploy for growth, and the company is a Nasdaq-listed operator of AI compute. For founders, the deal shows how asset-backed lending against deployed GPUs can free capital without new equity. Lenders are underwriting contracted cash flows, so customer agreements matter as much as the hardware itself.