Back to all articles
•Technology

Firmus Raises $505 Million, Bolsters AI Data Center Expansion

View original source

Asia AI data center provider Firmus announced a significant fundraising of $505 million, led by Coatue, reaching a post-money valuation of $5.5 billion. This round contributes to a total of $1.35 billion in funding over the past six months.

  • The Singapore-based company is actively developing an energy-efficient network of data centers in Australia and Tasmania, part of an initiative known as Project Southgate.
  • Nvidia is a key investor in this venture, having previously contributed alongside others in a AU$330 million round.
  • Firmus's data centers will leverage Nvidia’s Vera Rubin platform, which follows the Blackwell architecture and is expected for rollout in the second half of 2026.
  • Originally a provider of cooling technologies for Bitcoin mining, Firmus has pivoted towards AI solutions, aligning with the trend of crypto-origin companies refocusing on AI.
  • This pivot is attracting increasing investor interest.