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April 7, 2026 • Julie Bort

Firmus Secures $505M at $5.5B Valuation for AI Data Centers

Firmus Secures $505M at $5.5B Valuation for AI Data Centers Firmus Secures $505M at $5.5B Valuation for AI Data Centers Firmus Secures $505M at $5.5B Valuation for AI Data Centers

Firmus, the ‘Southgate’ AI Data Center Builder Backed by Nvidia, Hits $5.5B Valuation

Asia AI data center provider Firmus announced a significant funding round, raising $505 million led by Coatue at a $5.5 billion post-money valuation. This brings their total funding in the last six months to $1.35 billion.

Key Details:

  • Funding Round: $505 million strategic equity investment led by Coatue.
  • Valuation: $5.5 billion post-money valuation.
  • Total Funding (6 months): $1.35 billion.
  • Previous Funding: AU$330 million (approx. $215 million) at an AU$1.85 billion ($1.2 billion) valuation, with Nvidia as an investor.

Project Southgate:

Firmus is developing an energy-efficient network of data centers in Australia and Tasmania, codenamed 'Project Southgate'.

  • Technology: Utilizing Nvidia's reference designs for efficient data center construction.
  • Future Infrastructure: These data centers will be equipped with Nvidia's Vera Rubin platform, the successor to the Blackwell architecture, expected in late 2026.

Company Evolution:

Firmus originated from providing cooling technologies for Bitcoin mining and has transitioned into a prominent player in the AI infrastructure space, a trend seen with other crypto-rooted companies.

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