Firmus raises $2 billion at $10.5 billion valuation in Nvidia and Blackstone-backed funding round

Aug 7, 2026

Australian AI infrastructure developer Firmus has raised $2 billion in a strategic equity funding round led by Nvidia, Blackstone, Coatue, and Jane Street. The transaction values the former Bitcoin miner at over $10.5 billion, nearly doubling its $5.5 billion valuation from April 2026. Firmus will use the capital to accelerate Project Southgate, its AI factory rollout across Australia, and fund early expansion into Indonesia using Nvidia's DSX AI Factory Reference Architecture.

Firmus $2 billion funding round

▪The $2 billion funding round for Firmus was supported by existing investors Nvidia and Coatue Management, alongside Blackstone-managed funds and Jane Street.
▪Australian AI infrastructure company Firmus secured $2 billion in a strategic equity funding round announced on August 7, 2026.

Firmus valuation doubles

▪Firmus has raised more than $3 billion in total equity over the trailing twelve-month period leading up to August 2026.
▪Firmus' valuation of over $10.5 billion nearly doubled the $5.5 billion valuation recorded during its previous funding round in April 2026.
▪The $2 billion funding round elevated Firmus' post-money valuation to more than $10.5 billion.

Investor appetite for AI infrastructure

▪The participation of major Wall Street investors in Firmus' funding round underscores continued appetite for AI investments despite concerns about heavy spending.
▪Emanuel Ajay Datt of Datt Group stated that Firmus' rapid re-rating demonstrates how private capital views AI infrastructure as a capital-scarce opportunity.
▪Firmus secured a Blackstone-led $10 billion financing package in February 2026 tied to its Australian AI infrastructure plans.

Project Southgate expansion

▪Firmus builds its technical architecture utilizing Nvidia's DSX AI Factory Reference Architecture as its foundational blueprint.
▪Firmus has established domestic manufacturing capabilities in Australia for its proprietary HyperCube infrastructure system.
▪Firmus will deploy the $2 billion proceeds to accelerate Project Southgate, its initiative to build AI training and inference infrastructure across Australia.

Asia-Pacific market expansion

▪Firmus plans to use a portion of the $2 billion capital to fund early development of its recently announced AI infrastructure project in Indonesia.
▪Firmus and Nvidia expanded their relationship in late June 2026 through an agreement for Firmus to purchase Nvidia hardware and sell Nvidia-powered cloud services.

Bitcoin mining to AI pivot

▪Other former cryptocurrency mining firms, such as Core Scientific and IREN, have similarly redirected energy and data center assets toward AI computing workloads.
▪Firmus originally focused on Bitcoin mining operations before pivoting its business model toward AI infrastructure and high-performance computing services.