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Stack Infrastructure Inc., owned by Blue Owl Capital, is seeking a loan of approximately A$3 billion ($2.1 billion) to fund a new 250 MW data center project in Melbourne, Australia. The loan will be underwritten by several banks, including Mitsubishi UFJ and Natixis.

Investment in AI infrastructure is projected to exceed $3 trillion over the next five years, with Australia becoming a key player in this sector. Concerns regarding sustainable returns on AI-related investments have emerged, amid a broader selloff in wealth-management stocks due to AI competition.