Data center company Stack Infrastructure Inc. is seeking an A$8.6 billion ($6 billion) loan, Bloomberg reported on Thursday, 15 October 2026, citing a person familiar with the matter.
Bloomberg says proceeds will fund Stack’s data center project in Melbourne, and that the five-year loan would be a major test of investor sentiment toward AI debt in the region at a time of mounting concerns.
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The key insight: As we read it, the loan is the financing layer of the AI build being priced in real time: Bloomberg says Stack mandated arrangers this week for a five-year A$8.6 billion loan to fund its Melbourne project, and frames it as a major test of investor sentiment toward AI debt in the region, in the same week Bloomberg says CoreWeave’s bonds traded at levels that signal distress.
According to Bloomberg, Stack this week mandated lead arrangers, underwriters and bookrunners for the five-year loan, which the person said is possibly among the biggest financings to the sector in Asia.
The person, who asked not to be identified discussing private information, said the proceeds will fund Stack’s data center project in Melbourne, Bloomberg reported.
Bloomberg reported that a representative from Stack didn’t immediately respond to a request for comment, and that alternative asset manager Blue Owl Capital Inc., which owns Stack, declined to comment.
Stack Infrastructure is seeking an A$8.6 billion (about $6 billion) five-year loan to fund its Melbourne data center project, Bloomberg reported on 15 October 2026, citing a person familiar with the matter; Blue Owl, which owns Stack, declined to comment.
Who Stack Is
Bloomberg describes Stack as a Denver, Colorado-based firm that runs data centers across the Americas, Europe and Asia, including Sydney and Melbourne in Australia, according to its website. Stack’s own Melbourne page lists two facilities there, MEL01 and MEL02.
Bloomberg says Blue Owl acquired the operator as part of its takeover of IPI Partners LLC last year, and that Stack was considering a partial or full sale of its assets in Australia, Japan and Malaysia, according to a Bloomberg report in May.
Bloomberg does not name the lenders, the pricing or the size of the Melbourne project in megawatts.
The Market Around the Loan
Bloomberg places the plan amid growing investor skepticism toward the artificial intelligence sector that it says has fueled a selloff in both equities and bond markets this week.
It reports that MSCI Inc.’s Asia Pacific equities index fell more than 3% on Thursday, led by losses in Seoul, and that bonds of CoreWeave tumbled on Wednesday to levels that signal distress, with yields above 15%.
Bloomberg cites a September Goldman Sachs report putting AI-related debt issuance at around $578 billion this year, with hyperscalers accounting for 40% of the total.
The Other Data Center Financings Bloomberg Cites
Bloomberg writes that Nvidia-backed Firmus Grid Ltd. dropped an initial public offering this month to raise as much as $5.5 billion after investors balked at its steep increase in valuation to $30 billion.
As we read it, the timing is the story: Bloomberg places the mandate in a week when, it reports, MSCI’s Asia Pacific equities index fell more than 3% on Thursday and CoreWeave’s bond yields exceeded 15%.
As we read it, Stack is choosing debt while others pulled equity: Bloomberg writes that Firmus dropped an IPO of up to $5.5 billion and that AirTrunk’s REIT IPO was reported delayed, while Stack is seeking a five-year loan.
As we read it, the size matters for the region: the person told Bloomberg it is possibly among the biggest financings to the sector in Asia, against a global backdrop Bloomberg sizes, citing Goldman Sachs, at around $578 billion of AI-related debt issuance this year.
Bloomberg, on what the loan tests
“a major test of investor sentiment toward AI debt in the region at a time of mounting concerns”
Three Implications
LENDERS IN ASIA Bloomberg says Stack has mandated lead arrangers, underwriters and bookrunners for a five-year loan that may be among the biggest financings to the sector in Asia.
MELBOURNE Bloomberg says the proceeds will fund Stack’s data center project in Melbourne, where Stack’s own page lists two facilities, MEL01 and MEL02.
BLUE OWL Bloomberg says Blue Owl, which acquired Stack with IPI Partners last year, declined to comment; in May Bloomberg reported Stack was considering a partial or full sale of its Australian, Japanese and Malaysian assets.
The framework puts it this way: “It is a sovereign-scale financing problem dressed in tech-company clothing — and the financial architecture is starting to invert.”
As we read it, a five-year A$8.6 billion loan for one city’s data center project, sought in the week Bloomberg says AI debt sentiment is being tested, is that financing problem at the scale of a single campus.
The data center financing items Bloomberg cites in its 15 October 2026 report on Stack: Firmus dropping an IPO, AirTrunk’s REIT IPO reportedly delayed, Stack’s A$8.6 billion loan and a May report of a possible Stack asset sale.
What Is Not Established
The loan is being sought, not signed: Bloomberg’s account rests on one person familiar with the matter, and neither Stack nor Blue Owl commented. Bloomberg does not report the interest rate, the lenders, or how much of the A$8.6 billion is committed.
Bloomberg does not tie this loan to the May report of a possible sale of Stack’s Australian, Japanese and Malaysian assets, and we do not either.
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Stack Infrastructure, owned by Blue Owl, is seeking an A$8.6 billion ($6 billion) five-year loan to fund its Melbourne data center project, Bloomberg reported on 15 October 2026, citing a person familiar with the matter.
Bloomberg frames it as a test of appetite for AI debt in the region during this week’s AI selloff; Stack did not respond and Blue Owl declined to comment.
A note on sourcing. We read Bloomberg’s 15 October 2026 report in full through its Yahoo Finance syndication, and STACK Infrastructure’s Melbourne page. The loan details rest on one person familiar with the matter, as Bloomberg reports; Stack did not respond and Blue Owl declined to comment. The 13, 14 and 15 October items come from our own earlier reporting.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur, HackerNoon and Search Engine People. Find him on LinkedIn and Substack. See how we source.
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