Australian AI infrastructure developer Firmus has finalised a $10bn debt financing package led by Blackstone and technology investor Coatue, according to a report by Reuters. The capital will fund the next phase of Project Southgate, the company’s programme to build AI training and inference infrastructure across Australia.
The initiative is being developed in partnership with CDC Data Centres and Nvidia, with planned capacity of up to 1.6 gigawatts over the next three years as demand for AI continues to rise.
Blackstone says foundational infrastructure supporting AI represents a high-conviction investment theme, with Australia expected to be a key hub in the global expansion of AI capability. The financing follows earlier equity raises totalling about AUD830m, backed by Nvidia and Australian investor Ellerston Capital.
