Blackstone has led a US$10bn (€8.4bn) debt financing facility for Australian digital infrastructure company Firmus to support its international data centre roll-out.
The Blackstone package facility came from Blackstone Tactical Opportunities and Blackstone Credit & Insurance, with the backing of New York-based global technology investment firm Coatue.
The financing will accelerate artificial intelligence (AI) factory deployment, infrastructure manufacturing and energy integration to serve hyperscale and AI-native customers around the world, according to the soon-to-be-listed Firmus.
Firmus AI factories are already under construction across multiple Australian sites under its Project Southgate national roll out plan, It is expected to scale up to 1.6GW off infrastructure through 2028.
John Watson, a senior managing director in Blackstone’s Tactical Opportunities, said: “The picks and shovels powering the AI revolution are one of our highest conviction investment themes, and we are excited to finance Firmus’ continued growth. AI is driving one of the most significant infrastructure build-outs in decades, and we believe Australia can play a central role in that transformation.”
Oliver Curtis, Co-CEO, Firmus, said: “With Blackstone and Coatue’s financing, we’re helping meet the rising global demand for AI compute. On the ground, we’re focused on rapidly scaling our energy-efficient AI Factories to meet demand and create lasting value for both our customers and the broader local economy.”
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