Australia’s Firmus raises $2 B from NVIDIA, Blackstone, and Coatue to build more AI factories in Asia
With full commitments for a $2 billion strategic equity investment round, Australian AI infrastructure startup Firmus Grid has secured more than $3 billion in fresh equity over the last year, with a post-money valuation of more than $10.5 billion.
Firmus said in a statement on Friday that the round includes fresh investment from funds managed by Blackstone Tactical Opportunities and other Blackstone vehicles, as well as follow-on participation from Coatue and NVIDIA. Global trading and technology company Jane Street is also involved.
In addition to funding initial steps toward development into additional Asia-Pacific markets, such as Indonesia, the funds will expedite the rollout of Firmus’ Project Southgate AI Factory throughout Australia.
Based on NVIDIA’s DSX AI Factory Reference Architecture, Firmus develops AI infrastructure. It has established the ability to manufacture its proprietary HyperCube platform and grid-aware software in Australia.
According to Oliver Curtis, co-CEO of Firmus, the investment enables the business to grow throughout Australia while accelerating its ability to enter Asia-Pacific, including initial development in Indonesia catering to AI-native clients.
AI infrastructure is one of Blackstone’s top investment priorities and a key factor in the company’s worldwide expansion, according to John Watson, Senior Managing Director.
According to Robert Yin, General Partner at Coatue, Firmus’s unique approach to AI infrastructure combines manufacturing innovation, exclusive intellectual property, and a repeatable deployment architecture.
As AI models get bigger and more powerful, access to dependable, high-performance compute becomes more crucial, according to Daniel Pontecorvo, Head of Physical Engineering at Jane Street. Firmus is assisting in the development of the infrastructure required for the next generation of AI.
