--- title: Nvidia-backed Firmus targets $2bn ASX IPO after $505m... description: Australian AI data centre company Firmus Technologies has raised $505m at a $5.5bn valuation in its final pre-IPO round, targeting a $2bn listing on the... canonical: https://daily.dev/posts/nvidia-backed-firmus-targets-2bn-asx-ipo-after-505m-raise-and-10bn-blackstone-debt-d4q4yvcmo twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Nvidia-backed Firmus targets $2bn ASX IPO after $505m raise and $10bn Blackstone debt | daily.dev og:description: Australian AI data centre company Firmus Technologies has raised $505m at a $5.5bn valuation in its final pre-IPO round, targeting a $2bn listing on the... og:url: https://daily.dev/posts/nvidia-backed-firmus-targets-2bn-asx-ipo-after-505m-raise-and-10bn-blackstone-debt-d4q4yvcmo og:image: https://api.daily.dev/og/posts/d4q4yVCmO.png og:image:alt: Nvidia-backed Firmus targets $2bn ASX IPO after $505m raise and $10bn Blackstone debt og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Nvidia-backed Firmus targets $2bn ASX IPO after $505m raise and $10bn Blackstone debt **[The Next Web](https://daily.dev/sources/tnw)** · 8 min read · 0 upvotes · 0 comments ## Summary Australian AI data centre company Firmus Technologies has raised $505m at a $5.5bn valuation in its final pre-IPO round, targeting a $2bn listing on the Australian Securities Exchange in June or July 2026. The raise was led by Coatue Management with continued participation from Nvidia, which is both a strategic investor and primary chip supplier. Firmus is building 1.6 gigawatts of liquid-cooled AI compute capacity across five Australian locations by 2028, anchored by Project Southgate in Tasmania — a site chosen for its hydroelectric-powered grid. The buildout is backed by a $10bn Blackstone-led debt facility closed in February 2026, one of the largest private credit transactions in Australian history. The company, co-founded in 2019 and originally a cooling tech provider for bitcoin mining, plans to deploy 36,000 Nvidia GB300 Grace Blackwell chips at its Tasmanian campus alone. The projected total build cost across all sites is $73.3bn. Australia is emerging as a significant AI infrastructure destination due to its renewable energy resources, political stability, and Asia-Pacific proximity. ## Full article daily.dev links to this article rather than hosting it. Read it at the original source: ## Similar posts on daily.dev - [Firmus is seeking $5bn in its Australian float after doubling its valuation to $10.5bn](https://daily.dev/posts/firmus-is-seeking-5bn-in-its-australian-float-after-doubling-its-valuation-to-10-5bn-gg6d0lzku) · The Next Web · 0 upvotes · 0 comments - [OpenAI just anchored an Australian company’s Malaysian data centres](https://daily.dev/posts/openai-just-anchored-an-australian-company-s-malaysian-data-centres-x3xf4cfgo) · The Next Web · 0 upvotes · 0 comments - [Meta signs deal for Firmus AI computing capacity in Southeast Asia](https://daily.dev/posts/meta-signs-deal-for-firmus-ai-computing-capacity-in-southeast-asia-hp6jhabmf) · The Next Web · 0 upvotes · 0 comments - [Blackstone backs Neysa in up to $1.2B financing as India pushes to build domestic AI infrastructure](https://daily.dev/posts/blackstone-backs-neysa-in-up-to-1-2b-financing-as-india-pushes-to-build-domestic-ai-infrastructure-qz77by61w) · TechCrunch · 1 upvotes · 0 comments --- Tags: [#cloud](https://daily.dev/tags/cloud), [#nvidia](https://daily.dev/tags/nvidia), [#ipo](https://daily.dev/tags/ipo), [#ai-infrastructure](https://daily.dev/tags/ai-infrastructure) [View this post on daily.dev](https://daily.dev/posts/nvidia-backed-firmus-targets-2bn-asx-ipo-after-505m-raise-and-10bn-blackstone-debt-d4q4yvcmo) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"TechArticle","headline":"Nvidia-backed Firmus targets $2bn ASX IPO after $505m raise and $10bn Blackstone debt","url":"https://daily.dev/posts/nvidia-backed-firmus-targets-2bn-asx-ipo-after-505m-raise-and-10bn-blackstone-debt-d4q4yvcmo","mainEntityOfPage":{"@type":"WebPage","@id":"https://daily.dev/posts/nvidia-backed-firmus-targets-2bn-asx-ipo-after-505m-raise-and-10bn-blackstone-debt-d4q4yvcmo"},"datePublished":"2026-04-07T18:02:45.716Z","dateModified":"2026-04-07T18:05:56.101Z","description":"Australian AI data centre company Firmus Technologies has raised $505m at a $5.5bn valuation in its final pre-IPO round, targeting a $2bn listing on the...","image":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/27a1a9b4c2285f5190d0e50b2fe30c9e?_a=AQAEuop","thumbnailUrl":"https://media.daily.dev/image/upload/f_auto,q_auto/v1/posts/27a1a9b4c2285f5190d0e50b2fe30c9e?_a=AQAEuop","isAccessibleForFree":true,"articleSection":"The Next Web","inLanguage":"en","publisher":{"@type":"Organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180}},"author":{"@type":"Organization","name":"The Next Web","logo":"https://media.daily.dev/image/upload/t_logo,f_auto/v1/logos/tnw","url":"https://daily.dev/sources/tnw"},"commentCount":0,"discussionUrl":"https://daily.dev/posts/nvidia-backed-firmus-targets-2bn-asx-ipo-after-505m-raise-and-10bn-blackstone-debt-d4q4yvcmo","interactionStatistic":[{"@type":"InteractionCounter","interactionType":{"@type":"LikeAction"},"userInteractionCount":0},{"@type":"InteractionCounter","interactionType":{"@type":"CommentAction"},"userInteractionCount":0}],"keywords":"cloud,nvidia,ipo,ai-infrastructure","timeRequired":"PT8M"} {"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://daily.dev"},{"@type":"ListItem","position":2,"name":"The Next Web","item":"https://daily.dev/sources/tnw"},{"@type":"ListItem","position":3,"name":"Nvidia-backed Firmus targets $2bn ASX IPO after $505m raise and $10bn Blackstone debt"}]} ```