In a groundbreaking transaction announced on January 6, 2025, AirTrunk, a data center operator, was acquired by Blackstone Group after nine years of entrepreneurial journey, marking it as one of the most lucrative ventures in the AI sector for 2024. The deal, valued at 110 billion人民币, has set several remarkable records.
Record-Breaking Acquisition
The acquisition of AirTrunk by Blackstone, in partnership with the Canada Pension Plan Investment Board, at an valuation of AUD 24 billion, has made history. It stands as the largest并购 in the Asia-Pacific region for 2024, the biggest data center transaction globally, and Blackstone’s largest acquisition in the Asia-Pacific.
Surge in Valuation Amidst the AI Wave
The multi-billion valuation of AirTrunk would have been inconceivable without the surge of the AI wave. From a mere AUD 3 billion in 2020, the company’s value soared eightfold in just four years.
The Founder’s Tale
Robin Khuda, the founder of AirTrunk, crafted a remarkable journey from humble beginnings in Australia to a staggering valuation of over 100 billion in merely nine years. Facing bankruptcy at one point, a lifeline investment in 2017 propelled the company towards unprecedented success.
Company Evolution
By 2024, AirTrunk was operating 11 data centers across various cities with a total capacity of 1.8GW. Key milestones include the opening of its Singapore headquarters in 2019, marking the expansion beyond Australian borders, and securing a record-breaking loan of USD 4.6 billion in 2023.
Blackstone’s Investment
For Blackstone, this investment represents their largest commitment in the Asia-Pacific region. Blackstone’s dedication to the data center sector is evident, having invested heavily in several projects, including the acquisition of QTS for USD 10 billion in 2021 and a collaboration with Digital Realty in 2023.
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In a landmark deal, AirTrunk, the operator of one of Asia-Pacific’s largest data center platforms, has been acquired by Blackstone Group for an astonishing 110 billion人民币. This acquisition is a testament to the company’s remarkable growth fueled by the AI revolution.
Record-Breaking Acquisition
Blackstone’s deal with AirTrunk is not just a corporate milestone but a series of record setters, underlining the strategic importance of data centers in today’s digital landscape.
Surge in Valuation Amidst the AI Wave
The AI wave has been central to AirTrunk’s astronomical rise in valuation, a true embodiment of innovation leading to extraordinary financial success.
The Founder’s Tale
Khuda’s resilience and determination are woven into the fabric of AirTrunk’s success story, inspiring entrepreneurs around the globe.
Company Evolution
AirTrunk’s evolution is a narrative of strategic expansion and sustained growth, reflecting the company’s commitment to excellence and leadership in the data center industry.
Blackstone’s Investment
Blackstone’s significant investment in AirTrunk underscores a visionary approach to the data center sector, solidifying their position as a global leader in this critical infrastructure.
