Firmus
GPU neoclouds · APAC
Firmus was valued at $10.5B as of 7 August 2026 (reported). Source: Firmus (company newsroom), Firmus announces fully subscribed USD$2 billion strategic equity investment to accelerate NVIDIA AI Factory expansion across Australia and Asia-Pacific - follow-on from Coatue and NVIDIA, new investment from Blackstone Tactical Opportunities and other Blackstone funds, with Jane Street. The release does NOT state the post-money.
Australian AI factory developer and operator, building Project Southgate - the country's first sovereign, renewable-powered AI factory campus - on its immersion-cooled Sustainable Metal Cloud platform, with 36,000 NVIDIA GPUs planned across two stages in northern Tasmania plus Melbourne and other sites, and a national build-out reported at up to 1.6 GW by 2028.
- Valuation
- $10.5B
- Confidence
- reported
- As of
- 7 August 2026
- Layer
- GPU neoclouds
- Signal
- Project Southgate
- Website
- firmus.co
Relationships (2)
Notes
Australian AI factory developer and operator, building Project Southgate - the country's first sovereign, renewable-powered AI factory campus - on its immersion-cooled Sustainable Metal Cloud platform, with 36,000 NVIDIA GPUs planned across two stages in northern Tasmania plus Melbourne and other sites, and a national build-out reported at up to 1.6 GW by 2028. Its modular "liquid-everywhere" platform is built on NVIDIA's DSX AI Factory reference architecture, under a June 2026 NVIDIA partnership covering up to 170,000 accelerators across Grace Blackwell, Vera Rubin and Vera platforms through 2027-28; a March 2026 contract covers roughly 18,400 GB300 GPUs at the Melbourne facility. NVIDIA has invested in three successive rounds, joining first in the $330M raise and following on through the $505M April 2026 round at $5.5B led by Coatue and the $2B August 2026 strategic round. ITS ASX IPO FAILED: Firmus withdrew the listing on 2026-10-09 after about 48 hours of bookbuilding, having already cut the offer from A$11 to A$8.25 a share, and says it will seek private capital instead - the first AI infrastructure listing to be pulled. Investors balked at a mark near $30.6B against the $10.5B August round, at roughly $30B of expected debt, at only about 5% of sold capacity being built and running, and at about half the offering being allocated to existing holders rather than raising fresh capital. The mark here is the floor of the company's own "more than $10.5B" post-money, not a stated figure.
Sources
- Firmus (company newsroom), Firmus announces fully subscribed USD$2 billion strategic equity investment to accelerate NVIDIA AI Factory expansion across Australia and Asia-Pacific - follow-on from Coatue and NVIDIA, new investment from Blackstone Tactical Opportunities and other Blackstone funds, with Jane Street. The release does NOT state the post-money 2026-08-07
- Bloomberg, AI data center group Firmus draws $2 billion from Coatue, Nvidia 2026-08-07
- Capital Brief, Firmus confirms US$2b equity round led by Coatue, Nvidia 2026-08-07
- Firmus (company newsroom), Firmus closes US$330M raise with NVIDIA joining as an investor 2026-02-01
- TechCrunch, Firmus, the 'Southgate' AI data center builder backed by Nvidia, hits $5.5B valuation ($505M round led by Coatue, NVIDIA participating) 2026-04-07
- ABC News, Data centre operator Firmus pulls blockbuster ASX float after lacklustre investor demand 2026-10-09
- Capital Brief, Firmus withdraws ASX listing, seeks private funding 2026-10-09
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Last updated 7 August 2026. Follow Firmus in any feed reader to hear when its valuation moves.
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