Firmus valuation tops $10.5 billion after Nvidia-backed funding, nearly doubling in four months
Firmus said Friday that it raised $2 billion in equity financing in its latest funding round to accelerate the construction of artificial intelligence factories in Australia and the Asia-Pacific region. The financing lifted the company's post-money valuation to more than $10.5 billion. Nvidia and technology investment firm Coatue Management participated again in the round. Blackstone's BX.N fund and Jane Street also provided support. The financing valued the Australian-headquartered company at more than $10.5 billion, nearly double its $5.5 billion valuation in April. Firmus said the proceeds will allow it to accelerate the next phase of Project Southgate, which aims to develop AI training and inference infrastructure in Australia. The company also plans to expand into other Asian markets. Firmus is building its infrastructure around Nvidia's DSX AI Factory reference architecture. The two companies reached an agreement in late June under which Firmus would procure Nvidia infrastructure and sell cloud services based on Nvidia technology. "This investment enables us to advance on multiple fronts at the same time. We are scaling up across Australia while accelerating our expansion into the broader Asia-Pacific region, including the initial work on our recently announced development in Indonesia, which will serve native AI customers," Firmus co-CEO Oliver Curtis said.
Nvidia and technology investment firm Coatue Management participated again in the round. Blackstone's BX.N fund and Jane Street also provided support.
The financing valued the Australian-headquartered company at more than $10.5 billion, nearly double its $5.5 billion valuation in April.
Firmus said the proceeds will allow it to accelerate the next phase of Project Southgate, which aims to develop AI training and inference infrastructure in Australia. The company also plans to expand into other Asian markets.
Firmus is building its infrastructure around Nvidia's DSX AI Factory reference architecture. The two companies reached an agreement in late June under which Firmus would procure Nvidia infrastructure and sell cloud services based on Nvidia technology.
"This investment enables us to advance on multiple fronts at the same time. We are scaling up across Australia while accelerating our expansion into the broader Asia-Pacific region, including the initial work on our recently announced development in Indonesia, which will serve native AI customers," Firmus co-CEO Oliver Curtis said.