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Stack Infrastructure Inc., owned by Blue Owl Capital, is pursuing a loan of about A$3 billion ($2.1 billion) to facilitate the development of a 250 MW data center in Melbourne, Australia. The loan, underwritten by banks including Mitsubishi UFJ and Natixis, is part of a larger trend where investment in AI infrastructure is expected to surpass $3 trillion over the next five years.

Australia ranks third globally in AI investments, following the US and China. However, there are concerns on Wall Street regarding the sustainability of returns on investments in AI. The recent announcement of AI tools has triggered selloffs in wealth-management stocks, with firms like Raymond James and Charles Schwab experiencing significant declines.