Firmus Explores $3 Billion Private Funding After IPO Withdrawal
Australian data center operator Firmus is exploring a private funding round of $2 billion to $3 billion. The company withdrew its planned IPO application in October.
Firmus, an Australia-based data center operator backed by Nvidia, is exploring a private funding round valued between $2 billion and $3 billion, according to sources familiar with the matter.
The company and its advisors are in discussions with existing investors regarding the potential financing, which could include both equity and debt components. No final decisions have been made.
Firmus had originally aimed to raise approximately $5 billion through an initial public offering (IPO). Existing investors were expected to contribute about half of that amount.
The company withdrew its listing application on October 9, citing market volatility, prevailing conditions, and investor concerns over valuation and future funding needs.
Firmus previously announced a $2 billion strategic equity investment to expand its AI infrastructure. It remains unclear if Nvidia will participate in the current proposed round. The company has stated it surpassed 900 MW of contracted capacity and expanded into Malaysia.