Australian AI infrastructure company Firmus has secured A$500 million (US$325 million) in fresh funding to accelerate the development of Project Southgate, its large-scale data centre and AI compute initiative. The raise — the company’s second round in two months — was backed by long-time investors Nvidia and Ellerston Capital, reinforcing global confidence in Firmus as it positions itself for a potential IPO.
The new capital will support expanded site development, energy procurement, and infrastructure deployment across Australia, where demand for high-capacity AI facilities continues to rise sharply. Firmus said the funding ensures it can respond quickly to enterprise and hyperscaler requirements while aligning its growth with the country’s broader renewable-energy transition.
Project Southgate Targets 1.6 GW of AI Compute Capacity
Project Southgate is central to Firmus’s strategy to build a network of AI factories designed for model training and inference. Developed in collaboration with CDC Data Centres and Nvidia, the initiative aims to reach up to 1.6 gigawatts of capacity by 2028, making it one of the largest AI infrastructure projects in the region.
The company said the new financing will accelerate land acquisition, grid integration, and the deployment of power-efficient architecture that supports large-scale GPU environments. With tech giants worldwide increasing capital expenditure on AI, Firmus expects demand for high-density compute infrastructure to intensify through the decade.
Global AI Demand Drives Expansion Across Australian Sites
Co-CEO Tim Rosenfeld said the raise ensures Firmus can meet customer demand as AI adoption surges across industries. “With demand for AI infrastructure accelerating, this funding ensures we can meet it quickly, cost-effectively, and in line with Australia’s renewable-energy future,” he said.
Firmus is developing multiple sites to support sectors including advanced analytics, life sciences, financial services, and autonomous systems. The company is also deepening its partnerships with energy providers to secure long-term renewable power, a key requirement for hyperscale AI operations.
Experienced Silicon Leadership Shapes Firmus’s Technical Roadmap
Firmus was founded by former Google and Meta silicon executives with decades of experience in large-scale compute systems. The leadership team previously built chip architecture and advanced hardware platforms for global technology companies before launching Firmus to address emerging AI bottlenecks around compute density, power availability, and cooling efficiency.
Analysts say the company’s rapid fundraising momentum reflects global investor appetite for AI-focused infrastructure as enterprises scale model training environments. The new round also positions Firmus as one of the most well-funded AI infrastructure players in the Asia-Pacific region.
Outlook: Australia Positions Itself as an AI Data Hub
Firmus’s expansion aligns with a broader push to make Australia a regional hub for AI data centres, driven by abundant land availability and growing investment in renewable-powered industrial zones. The company said it will continue to prioritise long-term energy deals and high-efficiency infrastructure designs to support sustainable AI growth.
With this latest raise, Project Southgate moves into an accelerated build phase, strengthening Australia’s role in the global competition for AI compute capacity.
