Blackstone Bankrolls Firmus as Private Credit Meets AI Factories: What Could Possibly Go Wrong?
Australian Financial Review
ENRICHED
Details
- Date Published
- 3 Feb 2026
- Priority Score
- 2
- Australian
- Yes
- Created
- 3 Feb 2026, 08:30 am
Description
American-style data centre dealmaking and financing is coming to Australia. And the numbers are getting bigger.
Summary
The article explores Blackstone's investment into Firmus Technologies, a significant player in the Australian data center sector dedicated to supporting AI infrastructure for large US technology firms. This investment reflects the growing trend of American-style financial strategies entering the Australian market, described as part of a $4.3 trillion global surge in data center development. The piece highlights the potential risks and sustainability concerns associated with such large-scale investments in AI-related infrastructure. Although it raises important questions regarding technological and financial risks, the discussion of existential AI safety is more implicit, connected to infrastructure capacity expansion rather than direct analysis of AI risks.
Body
CompaniesChanticleerPrint articleFeb 3, 2026 – 7.22pmPrivate-equity giant Blackstone is set to breathe new life into Australia’s data centre sector with the type of deal underpinning a $US3 trillion ($4.3 trillion) rush in the United States that is now spreading globally.After a summer of talks, Blackstone’s getting ready to bankroll Oliver Curtis’ Australian artificial intelligence factory upstart, Firmus Technologies, which needs tens of billions of dollars to rent and build giant data centres that would service big US technology companies and their large language models.Loading...Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.comSaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreChanticleerOpinionData centresCapital raisingPrivate equityInfrastructureAIData Centre Gold RushFetching latest articles