By Moz Farooque ACCA
Publication Date: 2026-08-07 20:39:00
This article first appeared on GuruFocus.
Firmus has secured commitments for a $2 billion equity raise backed by Nvidia (NASDAQ:NVDA), Blackstone (NYSE:BX), Coatue and Jane Street, nearly doubling the Australian AI-infrastructure company’s valuation to more than $10.5 billion in four months. The financing highlights continued investor appetite for the physical infrastructure behind artificial intelligence even as concerns grow over the enormous capital required to sustain the boom.
Firmus builds and operates large-scale AI factories, essentially specialized data centers packed with advanced GPUs, power systems and cooling infrastructure. Its Project Southgate network is designed to provide AI training and inference capacity across Australia, while the company is also expanding into Southeast Asia.
Coatue and Nvidia made follow-on investments in the latest round, while Blackstone-managed funds and Jane Street joined the financing. Firmus has now raised more than $3 billion in equity over the past year, with the latest valuation jumping from roughly $5.5 billion in April.
We believe AI infrastructure will be a foundational driver of global growth and it is among our highest conviction investment themes. We are pleased to continue to invest in Firmus and support platforms at the forefront of AI innovation, Blackstone Senior Managing Director John Watson said.
The capital will accelerate Project Southgate and…
