Asia-based AI infrastructure company Firmus has stated that it expects to secure a further USD$505 million (A$729 million) strategic equity investment led by Coatue, global investors in AI and technology infrastructure, with participation from NVIDIA subject to certain closing conditions.
The news comes after Firmus announced it secured a US$10 billion (AU$14.2 billion) debt financing facility back in February, led by Blackstone and supported by Coatue.
The investment aims to support the rapid deployment of Firmus’ AI infrastructure platform, based on the NVIDIA Vera Rubin DSX reference design, across the Asia-Pacific region, enabling the delivery of Project Southgate in Australia and deployments of AI factories across the region.
Firmus’ flagship Project Southgate is establishing a national network of energy-efficient AI factories across Australia. The Firmus AI Factory platform is delivered through a vertically integrated supply chain based in Australia. allowing for faster deploymen and lower up front and ongoing operating costs, the company claims.
“AI demand is accelerating faster than the infrastructure required to support it,” said Robert Yin, general partner and head of AI infrastructure at Coatue.
“Firmus is closing that gap with an energy-efficient AI Factory model purpose-built for next-generation compute at a global scale. We’re proud to partner with Firmus as they build critical infrastructure for the future of AI.”
“This investment reinforces Australia’s role in global AI infrastructure while accelerating our Asia-Pacific growth strategy,” said Oliver Curtis, co-founder and co-CEO of Firmus.
"Project Southgate provides a strong foundation for exporting efficient AI compute globally, and our experience in Singapore gives us a proven blueprint for scaling across Southeast Asia.”
This transaction is expected to bring Firmus’ total equity raised to USD$1.35 billion over the past six months, at a post-money valuation of USD$5.5 billion and subject to certain closing conditions.
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