Nvidia-backed Firmus seeks $10 billion for AI chip development
The Australian data-centre builder, backed by Nvidia, Jane Street, Blackstone funds and Coatue Management, is raising fresh capital ahead of a planned ASX listing.
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Firmus, an Australian company that builds, owns and operates AI data centres, is seeking to raise $10 billion for chip development. Nvidia is among its financial backers, alongside Jane Street, Blackstone funds and Coatue Management, Reuters reported, in a report carried by Yahoo Finance and GuruFocus.
Firmus deploys Nvidia's Vera Rubin processors and its DSX AI Factory Platform across its data centres, Quartz reported.
The company has raised capital in stages over the past year. Reuters, cited by Quartz, reported that its most recent round valued Firmus above $10.5 billion. In April 2026, Firmus announced a $505 million equity investment led by Coatue with Nvidia's participation, taking total equity raised over six months to $1.35 billion at a $5.5 billion valuation, according to Silicon Valley Investclub. In August 2026, it raised a fully subscribed $2 billion round with follow-on money from Coatue and Nvidia and new backing from Blackstone Tactical Opportunities and Jane Street, Firmus said in its own announcement. Separately, Blackstone-managed funds led a $10 billion debt facility that same month for Firmus's Australian infrastructure programme, a different pool of money from the raise now being sought, according to a GuruFocus analysis for Yahoo Finance. Wilson Asset Management has also reported that Firmus is in late-stage talks for another debt package of more than $10 billion, tied to a new Indonesian data centre in Batam that is also Nvidia-backed.
Firmus, founded in Australia in 2019, is preparing to list on the ASX, with a term sheet reportedly setting a bookbuild for October 6 and a debut on October 22, TheNextWeb reported, citing the term sheet. Firmus's entry into AI chip development, backed by major investors, points to continuing competition in custom silicon. The raise itself does not change the near-term supply and demand for Nvidia's own chips, and any effect on Nvidia would depend on whether Firmus gains real traction, which would weigh only gradually and only if it happens.