Market Chatter: Nvidia-backed Firmus Raises $505 Million in Funding

MT Newswires Live04-07

Nvidia-backed (NVDA) Australian artificial intelligence company Firmus Technologies has raised $505 million in an investment round led by Coatue Management, as part of its efforts to fund AI infrastructure, Bloomberg reported late Monday.

The transaction, which also included participation from Nvidia, values the data center builder startup at $5.5 billion, Firmus said Thursday, according to the report.

Firmus plans to use the financing to roll out AI hardware powered by Nvidia's upcoming technology in its data centers across the Asia-Pacific region, Bloomberg reported.

Firmus has raised $1.35 billion over the last six months, including the latest deal, as it advances its Southgate project to build data center capacity driven by renewable energy in Australia, the report added.

Firmus did not immediately respond to MT Newswires' request for comment.

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