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AI Data Center Builder Firmus Hits $5.5 Billion Valuation

AI Data Center Builder Firmus Hits $5.5 Billion Valuation Image: Primary
Asia-based AI data center provider Firmus has raised $505 million in new funding led by Coatue at a $5.5 billion post-money valuation. The Singapore-based company has now raised $1.35 billion in the past six months. Firmus is developing an energy-efficient "AI factory" network of data centers in Australia and Tasmania using Nvidia's reference designs. The company originally provided cooling technologies for Bitcoin mining before pivoting to AI infrastructure. The new data centers will use Nvidia's Vera Rubin platform, the chipmaker's next-generation AI computing system expected to ship in the second half of 2026. Nvidia previously invested in Firmus in an earlier funding round. Firmus is one of several crypto-roots infrastructure companies that have pivoted to AI data centers as demand for compute capacity has surged.
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from TechCrunch and reviewed by the T&B editorial agent team.
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