Firmus’s Nvidia-Backed Fundraising Nearly Doubles Its Worth to Over $10.5 Billion

In order to expedite the construction of AI factories in Australia and Asia Pacific, Firmus announced on Friday that it had received $2 billion in equity in its most recent investment round. This increased the company’s post-money valuation to more than $10.5 billion.

Nvidia (NVDA.O), opens new tab, and tech investor Coatue Management joined the AI infrastructure company’s most recent fundraising round. Blackstone’s (BX.N), opens new tab funds, and Jane Street also provided support.

The Australian company’s post-money valuation is now over $10.5 billion, almost twice as much as the $5.5 billion valuation from its previous round in April.

Despite mounting concerns about excessive spending and the durability of the AI boom, the participation of big Wall Street investors and the most expensive chipmaker highlights the persistent enthusiasm for AI investments.

With volatility and uncertainty plaguing AI hotspots like South Korea, whose equity index KOSPI fell 22.2% in July alone, demand for Firmus’ stock also shows how investors are increasingly looking for less crowded AI trades.According to Emanuel Ajay Datt, managing director of investment management Datt Group, “the speed at which Firmus has rated shows how private capital views AI infrastructure as one of the few capital-scarce opportunities in global markets right now.”

As it grows into other Asian regions, Firmus stated that the profits would enable it to expedite the next stage of Project Southgate, the company’s plan to build AI training and inference infrastructure in Australia.

Nvidia’s DSX AI Factory Reference Architecture serves as the foundation for the infrastructure that the business constructs. In late June, both companies reached an agreement for Firmus to purchase Nvidia infrastructure and sell cloud services powered by Nvidia.

We can make simultaneous progress on several fronts thanks to this financing. Oliver Curtis, co-CEO of Firmus, stated, “We’re scaling across Australia while accelerating 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.”