After financing supported by NVIDIA, Firmus is valued at over $10.5 billion, nearly doubling in four months
Complete. Here is the key summaryFirmus completes $2 billion equity financing, post-money valuation exceeds $10.5 billion, doubling since April. NVIDIA, Coatue Management, and others participated in the investment. The funds will be used to accelerate the construction of AI factories in Australia and the Asia-Pacific region, including advancing the "South Gate Project" and new development projects in Indonesia, aiming to expand AI infrastructure scale and market reach
Firmus announced on Friday that it has raised $2 billion in equity funding in its latest financing round to accelerate the construction of artificial intelligence factories in Australia and the Asia-Pacific region, bringing the company's post-money valuation to over $10.5 billion.
In this round of financing, NVIDIA and technology investment firm Coatue Management participated again, with support from Blackstone's BX.N fund and Jane Street.
This financing round has pushed the post-money valuation of the Australia-based Firmus company to over $10.5 billion, nearly double its valuation of $5.5 billion in April.
The AI infrastructure company stated that the funds raised will enable it to accelerate the next phase of the "Project Southgate," which aims to develop AI training and inference infrastructure in Australia, while also expanding into other Asian markets.
Firmus builds its infrastructure based on NVIDIA's DSX AI Factory reference architecture. The two companies reached an agreement in late June for Firmus to procure NVIDIA infrastructure and sell cloud services based on NVIDIA technology.
"This investment allows us to advance on multiple fronts simultaneously. We are scaling up comprehensively in Australia while accelerating our expansion into the broader Asia-Pacific region, including the initial work on our recently announced development project in Indonesia, which will serve native AI customers," said Firmus co-CEO Oliver Curtis