Firmus hits $15bn valuation, raises $2.85bn for AI data centres
Australian-born AI infrastructure company Firmus closed a $2.85 billion equity round, pushing its valuation to $15 billion. The round was led by existing backers Coatue and Nvidia, with new money from Blackstone funds and US trading firm Jane Street.
The valuation has doubled since April 2026, when Firmus raised $725 million at an $8 billion post-money. In February, the company secured a separate $14.2 billion debt facility from Blackstone to fund Project Southgate, its national rollout of AI data centres across Australia with expansion into Asia-Pacific.
Firmus has raised over $4 billion in the past year. It was valued at $1.85 billion in September 2025.
What Firmus actually does
Firmus builds and operates GPU-dense data centres, which it calls "AI factories". The company is targeting 1.8 GW of data centre capacity in Australia by 2028, with sites planned for Tasmania, Melbourne, Canberra, Sydney and Perth. It positions itself as one of the largest independent AI infrastructure operators in Asia-Pacific.
The company was founded by Oliver Curtis, Tim Rosenfield and Jonathan Levee. It is Singapore-based with Australian operations and has previously flagged ASX IPO plans.
Why this matters for sales teams
AI infrastructure is one of the hottest funding categories in 2026. Firmus joins a cohort of well-capitalised infrastructure plays backed by Nvidia, Blackstone and major tech investors. Companies in this space typically hire enterprise sales teams to lock in capacity commitments from hyperscalers, AI labs and large enterprises.
Firmus has not disclosed headcount or sales team size. Worth tracking: whether the company scales go-to-market locally in ANZ or runs enterprise sales from Singapore. Infrastructure deals are long cycles, high ACV, and often require technical sales or solutions engineering support.
For context: Series B infrastructure companies in this category often hire 6-12 enterprise AEs post-raise. Firmus is well past Series B in both capital and valuation, but remains private with no confirmed revenue numbers.