AI Infrastructure Startup Firmus Raises $505 Million at $5.5 Billion Valuation

Firmus Technologies, an Australian data center builder backed by Nvidia, has raised $505 million in a funding round led by Coatue Management. The financing values the company at $5.5 billion. The investment brings Firmus's total funding raised in the past six months to $1.35 billion. The company designs and builds data centers optimized for artificial intelligence workloads, addressing the growing shortage of suitable infrastructure for AI training and inference. Firmus is among a cluster of startups racing to construct specialized facilities as demand for AI compute capacity outstrips available supply. Traditional data centers often lack the power density and cooling systems required by modern AI clusters. The funding reflects continued investor appetite for AI infrastructure plays beyond chipmakers and cloud providers. Coatue Management, a technology-focused investment firm, has backed multiple companies in the AI supply chain. Firmus did not disclose specific use-of-proceeds plans. The company operates primarily in the Asia-Pacific region, where it has secured sites with access to abundant power for high-density computing.