By TradingView
Publication Date: 2026-10-09 07:57:00
Nvidia-backed NVDA Firmus Grid is exploring raising $2B to $3B in a private funding round after abandoning plans for a roughly $5B initial public offering that would have valued the Australian data center company at $30B, Bloomberg reported.
Firmus and its advisers are in discussions with existing investors to help fund the round, people familiar with the matter said, asking not to be identified because the talks are private. The financing structure has not been finalized and could include a mix of equity and debt. It remains unclear whether Nvidia 
The talks remain ongoing, and the final size and terms of the financing could change, the people said. A Firmus representative declined to comment.
Like other so-called neocloud companies, Firmus needs continued access to capital to develop its pipeline of data center projects. Existing investors had planned to contribute about half the funds Firmus intended to raise through its IPO, potentially helping the company secure private financing more quickly.
Firmus has previously secured $2B in investor commitments from backers including Nvidia 
On Friday, Firmus withdrew its application to list on the Australian Securities Exchange, saying it would consider alternative funding options. The move marked a sharp reversal for a company that had signaled strong investor…