Firmus lands $14b debt facility led by Blackstone, Coatue
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The news: AI infrastructure startup Firmus has secured a USD10 billion ($14.2 billion) debt financing facility led by private equity giant Blackstone and US investor Coatue.
The context: Firmus, which announced a $100 million equity investment by Maas Group last week, said the new financing will fund the next phase of its nationwide AI factory rollout, Project Southgate.
The Singapore-headquartered company secured a $330 million pre-IPO round in September, then followed up with a $500 million equity raise two months later.
It also agreed to a strategic partnership with chip giant Nvidia and Canberra-based CDC Data Centres late last year, aimed at extending its flagship Launceston campus into a network of new sites in Sydney, Melbourne, Canberra and Perth.
What they said: "This milestone reflects the trajectory of Australia as a global player in powering AI," said Firmus co-CEO Oliver Curtis.
"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."
Blackstone senior managing director John Watson commented: "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."
The source: Firmus media release
