Firmus raises $505M, $5.5B valuation for AI factory
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- Firmus raised $505 million in a fresh financing round led by Coatue, valuing the company at $5.5 billion post‑money.
- Firmus has accumulated $1.35 billion in total funding over the past six months.
- Firmus previously secured AU$330 million (~$215 million) at a valuation of AU$1.85 billion ($1.2 billion) from investors, including Nvidia.
- Firmus is building an energy‑efficient “AI factory” network of data centers in Australia and Tasmania, a project it calls Project Southgate.
- Firmus will use Nvidia’s reference designs and the upcoming Vera Rubin platform, Nvidia’s next‑gen AI computing system slated to ship in the second half of 2026.
- Firmus originally provided cooling technologies for Bitcoin mining, reflecting its crypto‑origin background.
Why it matters: The $505 million injection gives Firmus the capital to roll out its Project Southgate AI‑factory network, leveraging Nvidia’s upcoming Vera Rubin chips, while investors secure a foothold in the fast‑growing AI‑infrastructure market and accelerate the shift from crypto‑mining to AI compute.
