Firmus Adds OpenAI; NVIDIA, Blackstone Face Different Sides of AI Buildout

Firmus’ September 8 agreement with OpenAI connects fresh computing demand to two distinct public-market exposures: NVIDIA Corporation (NASDAQ:NVDA), whose platform will power expansion, and Blackstone Inc. (NYSE:BX), whose managed funds led a $10 billion debt financing facility for Firmus’ Australian infrastructure program.

OpenAI agreed to contract dedicated computing capacity from two Malaysian sites under a multiyear partnership. Firmus said its total contracted capacity across all customers now exceeds 900 megawatts. That number must not be mistaken for the size of OpenAI’s individual commitment.

The company also distinguished two operational sites from five under development, targeting availability over the next 24 months. Customer commitments support the expansion, but most sites still have to reach service.

Hardware demand and investment exposure differ

Firmus plans to deploy NVIDIA Vera Rubin across Asia-Pacific. The potential benefit for NVIDIA is straightforward: successful development can create demand for accelerated computing systems and the accompanying platform.

Yet the announcement provides no NVIDIA order value or revenue schedule. Power, cooling, construction and customer deployment must align before a regional plan becomes an earnings contribution. Investors should not turn a capacity headline into a precise chip-sales forecast.

Blackstone’s connection comes through financing. In February, Firmus announced a $10 billion debt facility led by funds managed by Blackstone Tactical Opportunities, Blackstone Credit & Insurance and affiliates, supported by Coatue. Its stated purpose was the next phase of Project Southgate in Australia.

That is neither a claim that Blackstone’s public parent supplied $10 billion from its own balance sheet nor evidence that the facility specifically finances the new Malaysian sites. The geography and legal investment vehicles limit what shareholders can infer.

For Blackstone, managing infrastructure investment capital can support fees and performance-related economics. The Firmus disclosures do not quantify those benefits. Project delays or weaker customer economics could also impair investment outcomes and complicate the broader fundraising opportunity.

Contracted demand is a starting point

Insider Monkey’s tracked worksheet sample counted 285 NVIDIA holders in Q2 2026 versus 275 in Q1, while Blackstone holders declined to 76 from 84. Ken Fisher’s firm held NVIDIA, and D. E. Shaw held Blackstone. These historical positions preceded the OpenAI announcement.

August 14 short interest represented 1.23% of NVIDIA’s float and 2.94% of Blackstone’s, providing dated positioning context rather than a verdict on the partnership.

NVIDIA Corporation benefits if customers can deploy and pay for more of its computing platform. Blackstone Inc. needs attractive investment outcomes from capital it manages. OpenAI’s commitment supports Firmus’ demand case, while delivery and financing discipline still determine how that demand reaches either public company’s shareholders.