Firmus secures $10bn debt financing for Project Southgate AI expansion in Australia with Blackstone and Coatue backing. The AI Factory platform aims to meet global HPC demand through energy-efficient Nvidia DSX technology. Firmus specializes in efficient AI adoption, working with government, enterprise, and education sectors for sustainable AI solutions.
The funding marks Australia’s largest private debt financing and aligns with Blackstone’s global strategy for AI infrastructure. Firmus aims to rapidly scale energy-efficient AI Factories, constructing sites across Australia. Project Southgate targets 1.6GW infrastructure by 2028, serving demanding AI customers efficiently and sustainably.
Blackstone and Coatue’s financing accelerates AI Factory deployment, supporting infrastructure manufacturing and energy integration. The initiative focuses on hyperscale and AI-native customers globally, enhancing Australia’s digital innovation role and clean energy transition. Firmus’ growth aligns with Blackstone’s investment in the AI revolution, driving significant infrastructure development.
Firmus secures strategic equity investment from Maas Group Holdings, focusing on building an Australian AI supply chain. With over $562.7m raised in equity, partnerships with Benmax and JLE are set for mechanical and electrical systems. Project Southgate extension with CDC Data Centres and Nvidia aims to boost Australia’s digital innovation and manufacturing capabilities.
Project Southgate envisions Australia leading in AI development with renewable energy-powered infrastructure. The initiative creates jobs in advanced manufacturing and construction while supporting new renewable energy projects. AI development aims to showcase homegrown innovation and responsible AI development, contributing to sustainable offerings.
Construction for Project Southgate begins in Tasmania and Melbourne, targeting 150MW by mid-2026. With a total investment of A$73.3bn by 2028, operational capacity is set to reach 1.6GW. Surplus AI tokens and services may be exported to allied markets, promoting premium ESG-branded sustainable AI offerings.

Read more at Yahoo Finance: Firmus receives $10bn boost for Project Southgate rollout