Firmus announces $505 million Coatue-led equity investment
The AI infrastructure company plans to expand Project Southgate and its Asia-Pacific AI factory platform, with NVIDIA participating subject to closing conditions.
Firmus announced a $505 million strategic equity investment led by Coatue in April 2026, with NVIDIA participating subject to closing conditions. The transaction was expected to value the company at $5.5 billion after the investment.
Financing AI factory deployment
The funding supports Project Southgate in Australia and AI factory deployments across Asia-Pacific. Firmus builds infrastructure for hyperscale, enterprise and sovereign customers using NVIDIA’s Vera Rubin DSX reference design.
The proposed transaction would bring equity raised over the preceding six months to $1.35 billion. That cumulative figure includes earlier financing.
Use of funds
Deploy AI factories across Asia-Pacific
Develop Project Southgate in Australia