Nvidia-Backed Firmus Secures $10 Billion Debt Package for Australian Data Center Expansion
Australian AI infrastructure firm Firmus Technologies has secured a $10 billion debt financing package led by Blackstone and Coatue Management. The funding will accelerate Project Southgate, an ambitious initiative to deploy 1.6 gigawatts of AI training infrastructure across Australia by 2028.
The deal marks one of Australia's largest private credit financings, building on Firmus' earlier $582 million equity raises backed by Nvidia and Ellerston Capital. Australia now ranks as the world's third-largest AI investment destination behind the U.S. and China, with analysts projecting $105 billion in potential data center capacity growth.
Firmus plans to list on the Sydney stock exchange in late 2026, following a November 2025 valuation of $6 billion. The company's rapid scaling reflects intensifying global competition for AI infrastructure assets.
