Firmus, the ‘Southgate’ AI datacenter builder backed by Nvidia, hits $5.5B valuation

Firmus, the ‘Southgate’ AI datacenter builder backed by Nvidia, hits $5.5B valuation

Asia AI data middle supplier Firmus on Monday announced a contemporary $505 million elevate led by Coatue at a $5.5 billion publish cash valuation. With this round, Firmus has raised $1.35 billion in six months, it says.

The Singapore-based data middle company beforehand raised AU$330 million (roughly $215 million) at an AU$1.85 billion ($1.2 billion) valuation from buyers, including Nvidia.

Firmus is creating an energy-efficient “AI factory” network of data facilities in Australia and Tasmania, a project it dubs Project Southgate. It is utilizing Nvidia’s reference designs for constructing these environment friendly data facilities. These new data facilities will use Nvidia’s Vera Rubin platform — the chip large’s next-gen AI computing system succeeding its Blackwell structure, anticipated to ship in the second-half of 2026.

Firmus initially supplied cooling applied sciences for Bitcoin mining and has develop into yet-another crypto-roots-turned-AI supplier company that buyers love.

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