Firmus Secures US$10 Billion Financing led by Blackstone and Coatue to Scale Energy-Efficient AI Infrastructure

Sydney / New York – February 9, 2026

AI infrastructure company Firmus today announced it has secured a US$10 billion debt financing facility led by funds managed by Blackstone Tactical Opportunities, Blackstone Credit & Insurance, and affiliated funds (“Blackstone”), the
world’s largest alternative asset manager, and supported by Coatue, a leading global investment firm known for its deep research-driven approach to technology and infrastructure investing. The financing will fund the next phase of Project Southgate — the national rollout of Firmus’ AI Factory platform, based on the NVIDIA DSX reference architecture — to help meet accelerating global demand for high-performance compute.

The transaction marks one of the largest private debt financings in Australian history. It builds on Blackstone’s global strategy to finance large-scale AI compute and data-centre infrastructure platforms and reflects strong institutional conviction from Coatue’s deep experience in large-scale technology and infrastructure platforms.

John Watson, a Senior Managing Director in Blackstone’s Tactical Opportunities Group, 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.”

Firmus AI Factories are already under construction across multiple Australian sites, with thousands of GPUs planned for deployment. Project Southgate is expected to scale up to 1.6 gigawatts of infrastructure through 2028. Each factory is purpose-built for energy efficiency and token production to meet the infrastructure needs of the world’s most demanding AI customers. Australia’s competitive energy profile, skilled workforce, and export-ready infrastructure make it ideal for world-class AI factories.

“This milestone reflects the trajectory of Australia as a global player in powering AI,” said Oliver Curtis, Co-CEO. “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.”

The financing will accelerate AI Factory deployment, infrastructure manufacturing, and energy integration to serve hyperscale and AI-native customers around the world.

About Blackstone

Blackstone is the world’s largest alternative asset manager. Blackstone seeks to deliver compelling returns for institutional and individual investors by strengthening the companies in which the firm invests. Blackstone’s $1.3 trillion in assets under management include global investment strategies focused on real estate, private equity, credit, infrastructure, life sciences, growth equity, secondaries and hedge funds. Further information is available at www.blackstone.com. Follow @blackstone on LinkedIn, X (Twitter), and Instagram.

About Coatue

Coatue is a global technology investment platform with more than $70 billion in assets under management.

Coatue’s integrated team of investors, technologists, and data scientists invests across public and private markets through a range of strategies. The firm is known for its long-standing, research-driven approach to backing companies shaping the future of technology. Further information is available at www.coatue.com. Follow Coatue Management on LinkedIn and @Coatuemgmt on X.

About Firmus

Firmus Technologies builds world-class, highly-efficient AI factories, utilizing its proprietary technology to drive down total cost of ownership and accelerate AI adoption. With offices in Australia and Singapore, Firmus partners with government, enterprise, education and the innovators of tomorrow to create sustainable, sovereign AI solutions.

Follow @firmustechnologies on Linkedin.