Australia's Firmus raises $505 million to expand AI infrastructure across Asia-Pacific

Firmus, an Australian artificial intelligence company, said on Tuesday that it has raised $505 million in a funding round led by Coatue ‌Management, and ⁠plans to ⁠use the capital to scale its AI infrastructure platform across the Asia-Pacific region.

The equity investment valued Firmus at $5.5 billion post-money and included participation from ⁠AI chipmaker ‌Nvidia .

The company said the funds will also ⁠support its Project Southgate initiative, which aims to build a network of AI factories across Australia.


The project, developed in collaboration with Nvidia and CDC Data Centres, is expected ‌to reach a capacity of up to 1.6 gigawatts over the ⁠next three years.

The latest funding followed a $10 billion debt package led by New York-based investor Coatue and Blackstone, which the company finalised in February.