Australia-based AI infrastructure company Firmus has raised $2 billion in equity in its latest funding round, giving the company fresh capital to accelerate the development of AI factories across Australia and the Asia Pacific region.
The funding has lifted Firmus’ post-money valuation to above $10.5 billion, nearly doubling its $5.5 billion valuation from an earlier funding round in April.
The latest round attracted follow-on investment from Nvidia and technology investor Coatue Management, alongside investments from Blackstone’s funds and Jane Street.
Firmus plans to use the new capital to accelerate the next stage of Project Southgate, its initiative to develop AI training and inference infrastructure in Australia. The company also plans to use the funding to support its expansion into other Asian markets.
The latest investment comes as Firmus moves to increase its AI infrastructure capacity while preparing for expansion beyond Australia.
The company said the funding will support its plans to scale operations across Australia and accelerate its entry into the wider Asia Pacific market. This includes the early development work associated with its recently announced Indonesia development, which is intended to serve AI-native customers.
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 purchase Nvidia infrastructure and provide Nvidia-powered cloud services.
The partnership gives Firmus access to Nvidia-based infrastructure as it develops its AI factory network and expands its cloud capabilities across the region.
Commenting on the latest investment, Oliver Curtis, Co-CEO of Firmus, said, “This investment allows us to move on multiple fronts at once. We’re scaling across Australia while fast-tracking our capacity to expand into the wider Asia-Pacific region, including the early steps behind our recently announced Indonesia development that will serve AI-native customers.”
The latest fundraise marks a significant increase in Firmus’ valuation within a relatively short period. The company’s post-money valuation has risen from $5.5 billion in April to above $10.5 billion following the latest financing.
With the new capital, Firmus will focus on accelerating Project Southgate, expanding its AI infrastructure footprint across Australia and progressing its broader Asia Pacific expansion.
Firmus’ $2 billion funding round provides the company with substantial capital to scale its AI factory infrastructure, advance Project Southgate and accelerate its expansion into Asia Pacific, including its planned development in Indonesia.
