Australian AI cloud provider Firmus raised US$2 billion [1] in a strategic equity round to accelerate the rollout of Project Southgate.
The investment allows the company to scale its infrastructure of Nvidia-powered AI factories, positioning Firmus as a primary compute provider for the broader Asia-Pacific region.
This latest funding round follows a period of rapid capital accumulation for the company. Firmus has raised more than US$3 billion [2] in new equity over the past year. This includes a previous equity investment of US$505 million [5] in April 2026.
The funding round included participation from major investors, including Coatue, Nvidia, Blackstone, and Jane Street. These resources are earmarked for the expansion of Project Southgate, which focuses on building specialized AI factories to meet growing regional demand for high-performance computing.
Market valuations for the company vary among reporting sources following the raise. Some reports place the valuation above US$10.5 billion [3], while other estimates suggest the company is now valued at US$15 billion [4].
While most sources agree on the US$2 billion [1] figure for this specific round, some reports indicate the raise may have reached as high as US$2.85 billion [4]. The company intends to use the capital to double its operational capacity and expand its footprint beyond its Australian headquarters.
“Firmus raised US$2 billion in a strategic equity round to accelerate the rollout of Project Southgate.”
The massive capital influx into Firmus signals a strategic push to localize AI compute power in the Asia-Pacific region. By securing backing from both hardware giants like Nvidia and financial powerhouses like Blackstone and Jane Street, Firmus is attempting to build a sovereign AI infrastructure that reduces reliance on North American data centers.
