Australian artificial intelligence infrastructure company Firmus has secured $2 billion in fresh equity funding to accelerate the development of large-scale AI computing facilities across Australia and the Asia-Pacific region. The financing values the company at more than $10.5 billion post-money, nearly doubling its valuation from an April round and bringing total equity raised over the past year to more than $3 billion.
Existing investors Coatue and Nvidia joined the latest round alongside new backers including Blackstone Tactical Opportunities, additional Blackstone investment vehicles, and Jane Street. The capital will primarily fund Project Southgate, Firmus’s initiative to provide AI training and inference infrastructure, while also supporting early development of a recently announced AI infrastructure project in Indonesia.
Firmus manufactures its proprietary HyperCube platform in Australia, built on Nvidia’s DSX AI Factory Reference Architecture. The company says this approach enables faster deployment of AI computing systems while improving energy efficiency and system resilience. Co-Chief Executive Officer Oliver Curtis said the investment allows the company to advance multiple projects simultaneously as demand for AI computing infrastructure continues to rise.
The funding deepens Firmus’s relationship with Nvidia following a strategic agreement signed in June, under which Firmus purchases Nvidia infrastructure while providing cloud services powered by the chipmaker’s technology. Blackstone’s participation reflects growing institutional investor exposure to AI infrastructure projects, while Jane Street’s involvement signals increasing confidence in companies delivering physical AI infrastructure.
Australia will remain the primary destination for most of the newly raised capital, though Firmus is preparing additional expansion across selected Asia-Pacific markets. The company believes its existing manufacturing capabilities and software platform provide a strong foundation for deploying additional AI infrastructure before expanding further across the region.
The financing highlights continued investor confidence in AI infrastructure despite broader concerns about sector spending. Demand continues to grow as enterprises and government organisations across Asia-Pacific require greater computing capacity for training and deploying advanced AI models. Former cryptocurrency mining companies have increasingly shifted toward AI infrastructure by repurposing data centres, power assets, and high-performance computing facilities, reflecting demand for long-term infrastructure supporting large-scale AI workloads.
