Nvidia Backs AI Infrastructure Firm Firmus in Fresh $2 Billion Deal

Firmus just closed a massive two billion dollar equity round that pushes its valuation above ten and a half billion dollars. Nvidia and Coatue Management returned as investors for this round. New participants like Blackstone and Jane Street also joined in, showing strong institutional appetite for artificial intelligence infrastructure.

The Australian company started out as a Bitcoin mining cooling supplier before pivoting entirely to data centers running on Nvidia hardware. Firmus plans to use the new capital to fund Project Southgate, which brings massive AI training facilities across Australia and the wider Asia Pacific region including Indonesia.

Meanwhile, Nvidia stock traded near its all time high ahead of an upcoming earnings report on August 26. Wall Street analysts remain overwhelmingly bullish on the stock despite broader debates over high spending levels in the artificial intelligence sector. Traders will watch the upcoming earnings closely to see if chip demand continues to justify these massive valuations.