Blackstone Inc. and investment partner Coatue Management have secured a $10 billion senior secured loan for Australian artificial‑intelligence infrastructure developer Firmus Technologies, providing the capital to expand the company’s data‑center network across the country.
The financing will fund the construction of new AI data‑center facilities that will support up to 1.6 gigawatts of capacity by 2028 and enable the deployment of Nvidia‑based AI hardware at scale.
Firmus has raised more than $900 million in prior equity rounds, including a $500 million injection in November 2025 that valued the company at $6 billion, and it is planning a public listing on the Sydney Stock Exchange later in 2026.
Blackstone’s Senior Managing Director John Watson described the deal as a “picks and shovels” play for the AI revolution, underscoring the firm’s strategy to deepen its footprint in high‑growth AI infrastructure and positioning Australia as a key hub for AI compute.
The transaction ranks among the largest private‑credit financings in Australia, reflecting the growing role of private credit in funding capital‑intensive AI data‑center projects and the broader $3 trillion global AI infrastructure investment outlook.
Firmus CEO Oliver Curtis said the capital will accelerate the scaling of energy‑efficient AI factories, meet rising global demand for AI compute, and create lasting value for customers and the local economy.
The partnership also strengthens Nvidia’s supply‑chain presence in the region, as Firmus will use Nvidia chips in its new facilities.
The financing signals confidence in the Australian AI market and may accelerate the country’s ambition to become a top AI investment destination.
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