Firmus raises $2.8b for AI factory expansion

AI infrastructure company Firmus stated it has received full commitments US$2 billion (A$2.8 billion) for the next phase of its Project Southgate AI factory roll out across Australia, while also laying the  the groundwork for expansion into other Asia-Pacific markets.

The funding round includes follow-on participation from Coatue and NVIDIA - both of whom have led or participated in previous funding rounds of A$$330 million in September 2025, A$14.2 billion in February and A$729 million in April - as well as investment from funds managed by Blackstone and Jane Street.

The company also received $500 million in November 2025.

With Firmus' Australian manufacturing capability for its proprietary HyperCube platform and grid-aware software already established, the capital enables Firmus to accelerate its Australian rollout while making targeted investments to prepare for future expansion.

Firmus is building AI infrastructure based on NVIDIA DSX AI Factory Reference Architecture to bring capacity online faster, improve tokens per watt and strengthen resiliency at scale.

In June, Firmus announced it is partnering with NVIDIA in a compute partnership set to run through to 2034, with the deal anchored by a 360MW NVIDIA DSX AI factory campus in Batam, Indonesia.

Oliver Curtis, Firmus co-chief executive, said the investment allows the company to move on multiple fronts at once.

“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,” he said.

"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."

The transaction brings Firmus’ total new equity raised over the past year to more than US$3 billion, with a post-money valuation above US$10.5 billion.