Nvidia-Backed Firmus Secures $505M at $5.5B Valuation for APAC AI Expansion
Nvidia participated in a $505 million funding round led by Coatue for data center builder Firmus Technologies, valuing the Australian startup at $5.5 billion. The capital will accelerate deployment of Vera Rubin AI hardware across Australia and Singapore, including 36,000 accelerator chips in a renewable-powered Tasmania facility.
1. Major Funding Round
Firmus Technologies raised $505 million in a round led by Coatue Management, with Nvidia also participating. This increases the startup’s total capital raised to $1.35 billion over six months.
2. Valuation and Investor Profile
The latest funding round sets Firmus’s valuation at $5.5 billion and underscores investor confidence in AI infrastructure. Coatue brings over $70 billion in assets under management, highlighting strong backing for the expansion.
3. Deployment of Nvidia AI Hardware
Proceeds will fund rapid rollout of the upcoming Vera Rubin DSX systems, installing 36,000 Nvidia accelerator chips in data centers across Australia and Singapore to support large-scale AI workloads.
4. Southgate Renewable Data Center Initiative
Firmus is spearheading the Southgate project to build renewable-energy data centers in Tasmania, with backing from a global hyperscaler customer and Blackstone, advancing sovereign AI infrastructure in the region.