AirTrunk—the Australian data center operator backed by U.S. private equity giant Blackstone—is investing more than A$5 billion ($3.4 billion) to expand in Melbourne amid rising demand for cloud computing and AI infrastructure.

The Sydney-based company said it plans to build a 354-megawatt hyperscale data center in Melbourne’s northwest, dubbed MEL2. The project would boost the company’s total capacity in Australia’s second most populated city to 630 megawatts and bring its total investment there to more than A$7 billion, according to a

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