Australian AI cloud provider Firmus has raised US$2 billion in a strategic equity investment round.. The raise saw Firmus receive follow-on participation from Coatue and Nvidia, which led and participated in the company’s US$505 million equity investment in a round from April 2026, respectively.. – Firmus.
Blackstone Tactical Opportunities and other Blackstone vehicles invested in the latest round, with additional participation from Jane Street.. In a statement, Firmus said the investment will accelerate the next phase of its ‘Project Southgate AI Factory’ rollout across Australia, while also allowing the company to start expanding into other markets across Asia-Pacific..
This transaction brings the total raised by Firmus in the last 12 months to more than US$3bn, providing the company with a post-money valuation of more than USD$10.5bn.. “This investment allows us to move on multiple fronts at once,” said Oliver Curtis, co-CEO of Firmus. “We’re scaling across Australia while fast-tracking 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.
We’re excited to see continued backing from Coatue, Nvidia, Blackstone and Jane Street as we build one of the world’s leading AI infrastructure platforms from Australia.”. Founded in 2019, Firmus was initially focused on crypto and high-performance compute, specializing in immersion cooling, but today describes itself as a pure AI factory builder..
The cloud provider currently has a small facility in Tasmania but is developing a 90MW data center in Launceston, and has since said it would develop a 288MW campus on the Island. It is also partnering with CDC to roll out capacity in mainland Australia and is targeting some 1.6GW of infrastructure by 2028..
In June 2026, Firmus revealed it was working with SubCo to establish a subsea cable connecting mainland Australia to the island of Tasmania.. That same month, the company announced it was partnering with Nvidia to deploy a 170,000-GPU cluster at a data center in Batam, Indonesia. In early July, Firmus reached an agreement with Nvidia that will see the chip giant act as a financial backstop by renting back unused GPUs at a fixed rate in exchange for a share in its revenue..
More in Investment / M&A / Financing. 21 Jul 2026. 18 Feb 2026.
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