By TradingView
Publication Date: 2026-10-09 16:09:00
Nvidia-backed Firmus Grid is reportedly looking to raise as much as $3 billion privately after abruptly abandoning a roughly $5 billion IPO, putting fresh focus on how AI infrastructure companies are financing increasingly expensive data-center buildouts.
Firmus and its advisers are discussing a $2 billion to $3 billion private round with existing investors, according to Bloomberg. The eventual financing could combine debt and equity, although terms remain fluid and it is unclear whether Nvidia NVDA will participate.
Firmus develops AI-focused data-center infrastructure across the Asia-Pacific region using Nvidia computing systems. The company raised $505 million in April in a Coatue-led round that valued it at about $5.5 billion, with Nvidia participating. Firmus has also secured a $10 billion debt-financing facility led by Blackstone and Coatue to support its infrastructure rollout.
The latest funding push follows a dramatic reversal in Firmus’ IPO plans.
The company had targeted a listing valuing it at roughly $30 billion, despite being valued at just $10.5 billion less than three months earlier. But demand deteriorated as investors questioned AI valuations, execution risk and the amount of additional capital required to build the company’s pipeline. Firmus withdrew the offering Friday and said it would explore alternative financing options.
Investor Takeaway
For Nvidia investors, Firmus is less important because of its direct financial contribution than because of what it…
