Firmus, ‘Southgate’ AI datacenter builder backed by Nvidia, hits $5.5B valuation

Asian data provider AI Firmus on Monday he announced The new raising of $ 505 million led by Coatue at a valuation of $ 5.5 billion. With this round, Firmus has raised $1.35 billion in six months, it says.

The Singapore-based data center company has already been promoted AU$330 million (about $215 million) at AU$1.85 billion ($1.2 billion) valuation from investors, including Nvidia.

Firmus is building a network to power an “AI factory” of data in Australia and Tasmania, a project it calls Project Southgate. It is using Nvidia’s architecture to build these data centers. The new center will use Nvidia’s Vera Rubin platform – the next-generation AI computing system that follows Blackwell’s plans, which is expected to ship in the second half of 2026.

Firmus originally offered cooling technologies for Bitcoin mining and they have it to be another crypto-root-turned-AI agent the company they invest in likes.