The Blackstone-backed hyperscale operator is negotiating with lenders as it continues a global spending spree spanning Saudi Arabia, Malaysia, India, and Japan
AirTrunk, the Asia-Pacific data center giant acquired by Blackstone for over A$24 billion just last year, is in talks with banks for a $3 billion loan to fund a new data center project in Australia. The deal would represent one of the company’s largest single-project financing efforts and underscores just how capital-intensive the race to build AI infrastructure has become.
In October 2025, AirTrunk announced a $3 billion partnership with Saudi Arabia’s Humain to develop advanced data centers designed specifically for AI and cloud workloads. That deal alone signaled the company’s intent to expand well beyond its traditional Asia-Pacific footprint.
Then came a parallel $3 billion investment commitment in Johor, Malaysia, to build two new hyperscale data centers with a combined capacity of 280 MW. Those facilities are targeted for completion around mid-2026.
In March 2026, AirTrunk secured a record-breaking green loan worth JP¥191.6 billion, roughly $1.24 billion, for its Tokyo TOK1 campus. That financing was notable not just for its size, which made it the largest green loan for data centers in Japan, but for the signal it sent about how the company plans to fund future growth through sustainability-linked instruments.
And in June 2026, AirTrunk laid out perhaps its most ambitious plan yet: a $30 billion investment in India by 2030 to build 5 GW of new data center capacity.
Blackstone’s infrastructure thesis in action #
AirTrunk was founded in 2015 by Robin Khuda, who still retains a stake in the business. But the company’s trajectory shifted dramatically when a Blackstone-led consortium, alongside Canada Pension Plan Investment Board, acquired it in 2024 at an enterprise valuation exceeding A$24 billion.
That acquisition was, at the time, one of the largest data center deals ever struck in the Asia-Pacific region. Since the acquisition, AirTrunk has deployed billions across Australia, Japan, Malaysia, Saudi Arabia, and India in roughly 18 months.
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