AirTrunk

What AirTrunk does

AirTrunk is a hyperscale data center platform that builds and operates large-scale, carrier-neutral, multi-megawatt campuses for cloud, content, and large enterprise customers across Asia-Pacific and the Middle East. The company's legal entity is AirTrunk Operating Pty Ltd, founded by Robin Khuda, and it is backed by Blackstone and Canada Pension Plan Investment Board following a 2024 take-private at an A$24B+ valuation. The asset base spans 20+ campuses across Australia, Singapore, Japan, Malaysia, Hong Kong, and (newly) India and Saudi Arabia, with 3GW+ of pipeline and operational capacity and an A$18B+ sustainable financing platform.

The core product is a hyperscale campus: purpose-built, multi-MW facilities with carrier-neutral connectivity, direct cloud on-ramps, and high-density, liquid-cooling-ready designs suited to AI and HPC workloads. Technical differentiators include a 24/7 carbon-free energy program operated with Flexidao, recycled-water cooling at the Johannesburg JHB3/JHB4 campus, and reported industry-leading PUE at the Tokyo TOK2 campus. Named customer adjacencies include StarHub (Singapore), Microsoft and CLP Power (Hong Kong), and Google (Mulwala, Australia), with the broader book comprising undisclosed hyperscale anchor tenants on long-term contracts.

AirTrunk's commercial model is wholesale hyperscale: revenue is generated through multi-year, dedicated-campus leases to a small set of anchor tenants, with pricing benchmarked against hyperscale RFP rates rather than retail colocation. Go-to-market is direct enterprise sales to global cloud, content, and AI platforms, supplemented by carrier partnerships and government/utility relationships that secure multi-hundred-MW power allocations in capacity-constrained jurisdictions. Growth capital is raised through project-level green loans (A$2.25B SGP2, US$1.24B TOK1, US$2.3B Malaysia), with a Singapore REIT IPO reported as part of the longer-term capital-recycling plan.

Name

AirTrunk

Legal name

AirTrunk Pty Ltd

Website

https://airtrunk.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

501–1,000 employees

Short description

AirTrunk is a Blackstone- and CPPIB-backed hyperscale data center operator serving cloud, content, and enterprise customers across Asia-Pacific and the Middle East with 20+ carrier-neutral campuses and 3GW+ capacity.

Ownership category

akta.pro rank

Product category

Hyperscale Data Center Infrastructure

NAICS

Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518210)

SIC

Computer Communications Equipment (3576)

akta.pro primary industry

Hyperscale Data Center Campuses (Build-to-Suit) (HDABACAC)

Keywords

• Hyperscale data centers
• Data center colocation
• Wholesale data center
• Carrier-neutral interconnection
• Cloud infrastructure

Headquarters

HQ city

North Sydney

HQ country

Australia

HQ region

Oceania

Offices24 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Supply Chain, Marketing or Sales

Revenue model

1. Hyperscale Colocation & Data Center Capacity Leasing: Primary revenue stream from leasing hyperscale data center capacity (MW) to large cloud, content, and enterprise customers under long-term contracts. AirTrunk builds dedicated campuses scaled to anchor hyperscaler requirements, with revenue recognized over the contract life as a managed/hosted service. AirTrunk has invested approximately S$3 billion in Singapore across three operating data centers serving as its regional HQ and primary revenue base.
2. Green / Sustainability-Linked Loan Margin Incentives to Social Impact Fund: All financial margin incentives from AirTrunk's SLLs and green loans are directed to AirTrunk's social impact fund, supporting STEM scholarships, biodiversity, disaster relief, and digital equity programs. This is a self-funded community investment stream rather than revenue, but represents a structured use-of-capital framework tied to sustainability KPIs.

Go-to-market motion4 records

Distribution channels4 records

Marketing channels7 records

Core offering

AirTrunk develops and operates a wholesale hyperscale data center platform purpose-built for large cloud, content, and enterprise customers across Asia-Pacific and the Middle East. The company builds dedicated, carrier-neutral multi-building campuses (tens to hundreds of MW) under long-term contracts with anchor hyperscaler tenants, delivering secure, scalable digital infrastructure for cloud and AI workloads across Australia, Singapore, Japan, Malaysia, Hong Kong, India, and Saudi Arabia.

Product overview

AirTrunk is a single, integrated hyperscale data centre platform — a unified regional platform-plus-campuses architecture — rather than a collection of disconnected products. The core platform is anchored by the AirTrunk Hyperscale Data Centre Platform, which delivers secure, scalable, carrier-neutral digital infrastructure purpose-built for cloud and AI workloads across the Asia Pacific and Middle East. The platform is operationalised through 20+ named hyperscale data centre campuses across six markets — Australia (SYD1, SYD2, SYD3, MEL1, MEL2), Hong Kong (HKG1, HKG2), Japan (TOK1, TOK2, OSK1, OSK2), Singapore (SGP1, SGP2), Malaysia (JHB1, JHB2, JHB3, JHB4) and India (BOM1, BOM2, BOM3, MAA1, HYD1) — and a planned Saudi Arabia campus in partnership with HUMAIN. Layered on top of the physical infrastructure are two company-wide modules: the AirTrunk Green Financing Framework, an A$18+ billion sustainability-linked and green loan platform that underpins the company's net-zero commitment, and the AirTrunk Social Impact Program, which channels sustainable-finance margin savings into STEM education, biodiversity, disaster relief, and water access initiatives across the regions where AirTrunk operates.

Differentiator

Problem solved

Functional benefit

Products and services

• AirTrunk Hyperscale Data Centre Platform AirTrunk's core offering: a hyperscale data centre platform combining regional insight, innovative design, and rapid deployment to deliver scalable, carrier-neutral digital infrastructure for cloud and AI workloads across Asia Pacific and the Middle East.
• SYD1 — Sydney West AirTrunk's flagship hyperscale data centre in Western Sydney, with 80+ MW of IT load and 64,000 m² of real estate — one of Australia's largest carrier-neutral data centres, including a 130MW rooftop solar array.
• SYD2 — Sydney North AirTrunk's second Sydney hyperscale data centre in Sydney North with 110+ MW capacity.
• SYD3 — Sydney West 400+ MW hyperscale data centre under construction in Western Sydney, described as Asia-Pacific's largest, funded via a A$4.3 billion five-year loan.
• MEL1 — Melbourne AirTrunk's Melbourne hyperscale campus with 50+ MW of IT load across 20 data halls, Victoria's largest carrier-neutral data centre.
• MEL2 — Melbourne Planned $3.33 billion second hyperscale data centre campus in Melbourne, expanding AirTrunk's Australian platform.
• HKG1 — Hong Kong 20+ MW hyperscale data centre in Hong Kong near Tsuen Wan with direct low-latency access to Greater China and Northeast Asia.
• HKG2 — Hong Kong AirTrunk's second Hong Kong hyperscale data centre, announced in 2023 to accelerate digitalisation.
• SGP1 — Singapore AirTrunk's flagship 60+ MW hyperscale data centre in Loyang, Singapore, with direct on-site interconnect to major public cloud providers and proximity to the Changi North Cable Landing Station.
• SGP2 — Singapore New 70+ MW hyperscale data centre in Loyang, Singapore, financed via Singapore's largest-ever data centre green loan (S$2.25 billion), designed to BCA Green Mark Platinum with a design PUE of 1.20.
• TOK1 — Tokyo East Japan's largest hyperscale data centre by MW, a 300+ MW campus on 13 ha in Inzai with 102 data halls and a design PUE of 1.15.
• TOK2 — Tokyo West 110+ MW hyperscale data centre in Tokyo West on a 4.6 ha site with 66kV high voltage power feeds, an industry-low design PUE of 1.15, and carrier-neutral connectivity.
• OSK1 — Osaka West 20+ MW hyperscale data centre in Osaka West, set over approximately 16,500 m² of Gross Floor Area with over 5,400 m² of technical data hall area.
• OSK2 — Osaka Downtown East 50+ MW hyperscale data centre in Osaka Downtown East with approximately 32,000 m² Gross Floor Area, 7,000+ m² technical data hall area, 77kV diverse high voltage power feeds, and industry-low design PUE.
• JHB1 — Johor Bahru 150+ MW AI-ready hyperscale data centre in Johor Bahru, Malaysia, with a 1 MW rooftop solar array and a 30 MW virtual PPA with IB Vogt.
• JHB2 — Johor Bahru Second cloud and AI-ready hyperscale data centre in Johor Bahru, Malaysia, scalable to over 270 MW.
• JHB3 — Johor Bahru New hyperscale data centre campus in Johor Bahru, Malaysia, part of AirTrunk's 280MW IT load expansion across JHB3 and JHB4.
• JHB4 — Johor Bahru New hyperscale data centre campus in Johor Bahru, Malaysia, purpose-built for high-density AI and cloud workloads with 100% recycled water cooling systems.
• India data centre platform (BOM1, BOM2, BOM3, MAA1, HYD1) AirTrunk's India platform acquired via Lumina CloudInfra, with campuses in Mumbai (BOM1, BOM2, BOM3), Chennai (MAA1), and Hyderabad (HYD1), forming part of a broader 5GW India pipeline.
• Saudi Arabia data centre platform (via HUMAIN partnership) AirTrunk's Middle East data centre platform developed in partnership with HUMAIN (Saudi Arabia's national AI company, owned by the Public Investment Fund), with an initial ~US$3 billion data centre campus.
• AirTrunk Green Financing Framework AirTrunk's sustainable finance platform totalling over A$18 billion (including Japan), structured as green loans and sustainability-linked loans (SLLs) tied to KPIs on energy and water efficiency, renewable energy adoption, and gender pay equity, with margin incentives directed to AirTrunk's social impact fund.
• AirTrunk Social Impact Program AirTrunk's social impact program funded by margin savings from sustainable financing, supporting STEM education, biodiversity, disaster relief, and water access initiatives across the regions where AirTrunk operates.

Quantifiable outcome

• 1.15 industry-low design PUE at TOK2 Tokyo West
• +7 more outcomes

Named customers4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature8 records

Partnerships

Eight partnerships are on record, tiered core and flagship.

• European Energy AustraliacoreStrategic or Co-development Partner · 1 June 2026European Energy Australia is commissioning the 25MW Mulwala Solar Farm in Riverina, NSW (acquired from Sweden's OX2 in 2024). The project supplies renewable electricity under a long-term PPA originally signed in 2023 to AirTrunk (matching energy consumption of Google's Australian data centers). The project advances Google's goal of operating on 24/7 carbon-free energy in Australia.
• Science Tokyo (Tokyo Institute of Science) / CLACK / Friends of the Kamenari River Association / Society for Ecological RestorationOthers · 12 December 2025
• Gravity WatercoreOthers · 25 November 2025AirTrunk social impact partner. In Malaysia, AirTrunk and Gravity Water are installing rainwater harvesting and water treatment systems in 65 schools in Johor Bahru, providing thousands of students with clean water. Gravity Water won US$500,000 first prize in the Blackstone Gives Back Challenge (October 2025), with the grant enabling expansion to over 300,000 people.
• HUMAIN (Saudi Arabia's PIF-owned AI company)flagshipStrategic or Co-development Partner · 29 October 2025HUMAIN (owned by Saudi Arabia's Public Investment Fund) and AirTrunk agreed to establish a strategic partnership to build data centers in the Kingdom of Saudi Arabia. The initial project involves an approximately US$3 billion investment for a data center campus. The partnership combines HUMAIN's national AI champion status with AirTrunk's hyperscale data center platform to deliver long-term digital infrastructure supporting Saudi Vision 2030.
• FlexidaocoreTechnology or Integration · 19 September 2025AirTrunk partnered with Flexidao (software intelligence platform) to establish the foundations for 24/7 Carbon-Free Energy (CFE) across its operating facilities in Singapore, Hong Kong, Australia, Malaysia and Japan. Flexidao enables hourly clean energy matching using the 24/7 Carbon-Free Coalition's Technical Guidance, positioning AirTrunk among the first hyperscale operators in APAC to apply this rigor to clean energy commitments.
• ib vogtcoreStrategic or Co-development Partner · 7 February 2024AirTrunk and ib vogt signed Malaysia's first renewable virtual PPA (vPPA) for a data centre in February 2024 under Malaysia's Corporate Green Power Program — a 30MW virtual PPA complementing on-site rooftop solar at JHB1.
• CLP Power (CLP Holdings)flagshipStrategic or Co-development Partner · 7 November 2022AirTrunk and CLP Power announced the first-of-its-kind renewable energy solution in Hong Kong for Microsoft in 2022, followed by the largest corporate renewable energy certificate procurement in Hong Kong for Microsoft in 2024. CLP Power provides renewable energy certificates and infrastructure supporting AirTrunk's Hong Kong campuses and Microsoft's sustainability commitments.
• StarHubflagshipChannel Partner/ Reseller/ Distributor · 9 October 2019StarHub (Singapore) and AirTrunk announced a strategic partnership to provide data centre services in Singapore. Through this partnership, StarHub offers data centre services (StarHub Data Centre @ Loyang) from AirTrunk SGP1, with full ICT, connectivity, and 5G/mobile edge computing services to its enterprise and government customers.

Scale indicators17 records

Recent moves14 records

Expansion highlights6 records

Broad incumbents

• Equinix: Global colocation and interconnection leader (NASDAQ: EQIX) with extensive APAC presence. Overlaps with AirTrunk on multi-MW hyperscale leases to cloud and AI customers but is more retail/interconnection-focused and operates at much broader scale across multiple verticals.
• Digital Realty: Largest pure-play global data center REIT (NYSE: DLR) with significant APAC footprint. Comparable to AirTrunk in serving hyperscale cloud and AI tenants at multi-MW scale, but operates a more diversified global portfolio rather than an APAC-specialist model.
• NTT Global Data Centers: Global data center division of NTT (parent of NTT Communications) with major APAC campuses. Comparable to AirTrunk on hyperscale build-out and carrier-neutral interconnection but offers a much wider portfolio of enterprise services.

Direct peers

• NEXTDC: Australia's largest independent data center operator (ASX: NXT) operating hyperscale and enterprise campuses in Sydney, Melbourne, Brisbane, Perth, and Auckland. Most directly comparable peer on geography and customer mix, with overlapping Australian customers including hyperscalers.
• Bridge Data Centres: Asia-Pacific hyperscale data center operator (backed by Bain Capital and Mubadala) with major campuses in Malaysia, India, Thailand, and other markets. Closely comparable on hyperscale build-to-suit model targeting the same cloud and AI customer cohort as AirTrunk.
• Princeton Digital Group: Pan-Asia hyperscale data center operator backed by Warburg Pincus and Ontario Teachers' with campuses across China, Singapore, Indonesia, India, Malaysia, and Japan. Closest pure-play competitor to AirTrunk's hyperscale APAC specialist model, though smaller in MW terms.
• GDS Holdings: China-focused hyperscale data center operator (NASDAQ: GDS; HKEX: 9698) serving top Chinese cloud and internet customers. Comparable on hyperscale-only model and long-term anchor-tenant contracts, but primarily China-concentrated with limited APAC ex-China overlap.
• Chindata Group: Asia-Pacific hyperscale data center operator (NASDAQ: CD; delisted post-Bain take-private) serving top cloud and AI customers primarily in China and India. Comparable on hyperscale-only model and emerging India focus overlapping with AirTrunk's newly acquired Indian platform.
• ST Telemedia Global Data Centres: Singapore-based data center operator with major campuses across Singapore, India, Thailand, Philippines, and the UK. Direct competitor in Singapore and key emerging APAC markets with similar hyperscale anchor-tenant strategy.

Regional players

• YTL Data Center: Malaysian hyperscale data center arm of YTL Corporation, operating major AI-ready campuses in Johor Bahru. Direct regional competitor in the same Johor corridor as AirTrunk's JHB1-JHB4 platform, competing for similar hyperscaler customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/airtrunk
• Xx.com/airtrunk
• Facebookfacebook.com/AirTrunk-942185885922752

Compliance9 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries1 record

Funding overview

Funding rounds9 records

Investors18 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AirTrunk