Firmus raises $505M and reaches a $5.5B valuation for AI data centers

In short: Firmus, a Singapore-based company that builds data centers for AI, raised $505 million and says it is now valued at $5.5 billion.

What happened

Firmus announced a new $505 million funding round led by investment firm Coatue. The company said this puts its “post-money valuation” at $5.5 billion, which is an estimate of what the whole company is worth right after the investment.

Firmus also said it has raised $1.35 billion in the past six months. Earlier, it raised AU$330 million, which is about $215 million, at a valuation of about $1.2 billion. That earlier round included Nvidia, the chip company that supplies hardware used to run many AI systems.

Firmus is building a network of energy-efficient data centers in Australia and Tasmania, a project it calls Project Southgate. A data center is like a warehouse full of computers that companies rent to run apps and services. Firmus plans to use Nvidia’s reference designs, which are basically detailed blueprints for how to build and organize these facilities.

The new sites are expected to use Nvidia’s Vera Rubin platform, the company’s next generation AI computing system. TechCrunch reported this platform is expected to ship in the second half of 2026.

Why it matters

AI services need a lot of computing power, which means a lot of electricity and cooling. More money for companies like Firmus suggests investors expect demand for these “computer warehouses” to keep growing, especially for projects that promise to use energy more efficiently.

Source: TechCrunch AI