Tech Bytes: Firmus funding surge sharpens focus on AI infrastructure IPO wave

Australia’s push for artificial intelligence infrastructure is gaining momentum. Sydney-founded, Asia-based Firmus Technologies confirmed on Tuesday a $505 million capital raise led by Coatue Management and continued support from Nvidia.

The funding – valuing the company at $5.5 billion – will support expanded deployment of high-performance AI data centers across Asia Pacific as demand for computing, power and cooling capacity increases alongside global AI expansion.

The latest raise values ​​Firmus at $5.5 billion and brings the total equity raised in recent months to $1.35 billion, underscoring how quickly money is flowing into the infrastructure layer of the AI ​​stack.

According to the company, the new capital will be used to expand its AI infrastructure presence across Asia Pacific, including…