Firmus Technologies Raises $2 Billion to Expand AI Infrastructure

AI infrastructure company Firmus Technologies raised $2 billion in equity, increasing its post-money valuation to over $10.5 billion. This figure nearly doubles the company's $5.5 billion valuation from April. The funding round included follow-on investments from Nvidia Corp and Coatue Management, L.L.C., with additional backing from Jane Street Capital and Blackstone Inc. funds.

Firmus Technologies will use the capital to accelerate Project Southgate, an initiative focused on developing AI training and inference infrastructure within Australia. The company also plans to expand into the wider Asia-Pacific region, specifically targeting a recently announced development in Indonesia to serve AI-native customers.

The company utilizes Nvidia Corp's DSX AI Factory Reference Architecture for its builds. This follows a June agreement in which Firmus Technologies committed to purchasing Nvidia Corp infrastructure to sell Nvidia-powered cloud services.