AI datacenter startup Firmus raised $2.85 billion in fresh funding from Coatue and Nvidia, valuing the company at $15 billion—tripling its valuation in under a year.

Firmus, the Australian-born AI data centre infrastructure startup with ASX listing ambitions, has raised US$2 billion (AU$2.85 billion) in fresh funding, pushing its valuation to AU$15 billion (US$10.5 billion). The round was led by existing investors Coatue and Nvidia, alongside new backing from funds managed by Blackstone Tactical Opportunities and other Blackstone vehicles, plus participation from US quant trading firm Jane Street.

The funding will support Project Southgate, Firmus's AU$73 billion national rollout. The Singapore-based company, which maintains its headquarters in Sydney, has now raised US$3 billion (AU$4.25 billion) in total over the past 12 months—an addition of AU$3 billion to its valuation since the company began touting an IPO on the ASX earlier this year at an AU$12 billion valuation.

The valuation growth has been extraordinary. In September 2025, Firmus was valued at just AU$1.85 billion when Nvidia backed an AU$330 million raise to build a data centre in Tasmania. That project has since expanded to three data centres on the island. The company subsequently raised AU$100 million at an AU$6 billion valuation, followed by a US$505 million (AU$725 million) raise at an AU$8 billion valuation in April.