Nvidia-Backed Firmus Hits $5.5B Valuation After Raise

Singapore-based AI data center builder Firmus raised $505 million led by Coatue, reaching a $5.5 billion valuation. The company has now raised $1.35 billion in just six months, with backers including Nvidia. Firmus is building an energy-efficient AI data center network across Australia and Tasmania called Project Southgate, using Nvidia's designs and its next-gen Vera Rubin computing platform. The company originally provided cooling tech for Bitcoin mining before pivoting to AI infrastructure.