Firmus raises $2 billion to expand AI infrastructure in Australia

Firmus, an Australian AI infrastructure startup, has secured $2 billion in a new strategic equity funding round, bringing its post-money valuation to over $10.5 billion. The funding round included follow-on participation from Nvidia and Coatue Management, alongside new backing from Blackstone and Jane Street.

Formerly a Bitcoin mining company, Firmus is pivoting toward the development of energy-efficient AI data centers. The capital will be used to accelerate "Project Southgate," the firm's initiative to build AI training and inference infrastructure across Australia. The company also plans to expand its operations into other Asia-Pacific markets, including Indonesia.

Firmus utilizes Nvidia’s DSX AI Factory Reference Architecture and its proprietary HyperCube platform to optimize computing, cooling, and power management. The company has already established a domestic manufacturing base for integrated system modules and recently secured a multi-year agreement for approximately 18,400 NVIDIA GPUs at its Melbourne facility.