Firmus Raises $10 Billion Debt Backed by Blackstone, Coatue
Synopsis
Firmus has secured a $10 billion debt package from Blackstone and Coatue Management to expand AI data centre infrastructure in Australia. The funding will support Project Southgate, which aims to deliver up to 1.6 gigawatts of computing capacity within three years. Firmus is working with CDC Data Centres and Nvidia on the project. The deal reflects growing investor interest in infrastructure that supports artificial intelligence as demand for computing capacity increases. It also signals Australia’s expanding role in the global AI infrastructure ecosystem.
Firmus, an Australian AI infrastructure company, has secured a $10 billion debt financing package backed by Blackstone and Coatue Management. The company said the funding will be used to expand artificial intelligence data centre capacity in Australia under its Project Southgate initiative, as demand grows for computing infrastructure needed to support AI systems.
The financing was supported by Blackstone’s Tactical Opportunities group and Coatue Management, providing Firmus with capital to build and expand facilities designed for AI training and operations.
Project Southgate to Drive large Scale Capacity Growth
The funding will primarily support Project Southgate, Firmus’ infrastructure development program focused on AI data centres. The project aims to build facilities capable of supporting large-scale computing required for artificial intelligence workloads.
Firmus is working with CDC Data Centres and Nvidia on the project. The company expects the initiative to deliver up to 1.6 gigawatts of computing capacity over the next three years, reflecting the increasing need for high-capacity infrastructure.
This investment highlights the significant financial resources required to build and operate modern data centres that support advanced AI technologies.
Firmus had earlier raised A$830 million in equity in 2025, with backing from investors including Nvidia and Ellerston Capital. That funding helped the company begin development of its infrastructure projects and positioned it to secure larger financing to scale its operations.
Rising Demand for AI Infrastructure Attracts Investors
Artificial intelligence systems rely on data centres equipped with specialized hardware and cooling systems. These facilities require substantial investment, which has led infrastructure companies to partner with institutional investors.
The involvement of Blackstone and Coatue reflects continued investor interest in infrastructure that supports AI development.
Most large-scale AI infrastructure has been concentrated in the United States and parts of Asia. Firmus’ expansion indicates that Australia is developing capacity to support AI workloads, which could help strengthen its role in the global AI ecosystem.
“The picks and shovels powering the AI revolution are one of our highest conviction investment themes,” said John Watson, Senior Managing Director in Blackstone’s Tactical Opportunities group.
He added that demand for infrastructure supporting AI is expected to increase as adoption expands across industries.
Infrastructure Providers Support Growing AI Adoption
Companies like Firmus focus on building and operating data centres that provide the computing power required for AI systems. These facilities support both training and deployment of AI models.
As artificial intelligence adoption increases, infrastructure providers are expanding capacity to meet growing demand.
Firmus plans to use the funding to expand its infrastructure in phases under Project Southgate. The company will continue working with partners including CDC Data Centres and Nvidia to develop additional capacity.
Further investment and expansion are expected as demand for AI infrastructure continues to grow globally.
Key Highlights
- Firmus secured $10 billion debt financing from Blackstone and Coatue
- Funding will support Project Southgate AI data centre expansion
- Project aims to deliver up to 1.6 gigawatts of computing capacity
Follow Inspirepreneur Magazine for the latest Australian breaking news.
Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
You Might Also Like
PayPal’s Fall from Grace: Analysing Missteps and Future Strategies
Alok Kulkarni’s Journey: Transforming Customer Experience with Cyar
