Firmus, an AI datacenter developer, raised $2.85 billion from Coatue and NVIDIA at a $15 billion valuation.

Firmus, the Australian-born AI data centre infrastructure startup with ASX ambitions, has raised an additional US$2 billion (AU$2.85 billion), bringing its valuation to AU$15 billion (US$10.5 billion). The round was backed by existing investors Coatue and Nvidia, alongside new equity from funds managed by Blackstone Tactical Opportunities and other Blackstone vehicles, with additional participation from US quant trading firm Jane Street.

The funding supports Firmus's Project Southgate, an AU$73 billion national data centre rollout. The Singapore-based company, with headquarters in Sydney, has now raised a total of US$3 billion (AU$4.25 billion) in just 12 months, adding approximately AU$3 billion to its valuation since it began pursuing an ASX IPO at an AU$12 billion valuation earlier this year.

The growth represents a dramatic acceleration in the company's value. In September 2025, Firmus was valued at just AU$1.85 billion when Nvidia backed an AU$330 million raise to build a data centre in Tasmania. That project has since expanded to three facilities on the island. The company's previous funding round in April raised US$505 million (AU$725 million) at an AU$8 billion valuation, following an AU$100 million raise at an AU$6 billion valuation just weeks earlier.