GreenSquare DC has officially brought 15 megawatts of capacity online for the inaugural stage of its SYD1 data centre in Western Sydney, fully leased to Nasdaq-listed neocloud Sharon AI.
Neither Jemena nor NextDC has formally confirmed that the power pole pause directly caused the supply bottleneck. However, Citigroup analyst Siraj Ahmed confirmed in a client briefing that the trading halt is heavily linked to Jemena’s suspension of the infrastructure project.
The AI boom’s binding constraint is shifting from chips to permits, power and credit, and investors are beginning to price the gap between announced data centre capacity and what can realistically be financed and built.
The Nasdaq-listed AI cloud provider says it expects to spend more than $10 billion on the project, called Redbank, which would be built in stages over six to eight years and target a grid connection in 2029.
A caveat on balance: Firmus’s position is that its contracted customer capacity is intact and its strategy unchanged, and with Nvidia, Blackstone and Coatue involved it has credible backing.
