At Firmus, private credit meets AI factories. What could go wrong?

Private equity giant Blackstone is set to breathe new life into Australia’s data center sector with a deal of the kind that underlies a $3 trillion rush in the United States that is now spreading globally.

After a summer of talks, Blackstone is preparing to fund Australian firm Firmus Technologies, founded by Oliver Curtis in an artificial intelligence factory. The company needs tens of billions of dollars to lease and build massive data centers that would serve major U.S. technology companies and their major language models.

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